eBook Use the following excerpts from Zowleski Company's financial information. Cash Accounts Receivable Merchandise Inventory Plant Assets Accumulated Depreciation Total Assets Dec. 31, 2018 Dec. 31, 2017 $98,500 $90,000 22,000 22,900 139,000 131,000 185,000 155,000 (25,000) (21,000) $419,500 $377,900 Accounts Payable Notes Payable $18,500 $21,000 135,500 120,000 Common Stock 20,000 20,000 Retained Earnings 245,500 216,900 Total Liabilities and Equity $419,500 $377,900 Additional Information: Net Income for 2018 $28,600 Depreciation Expense for 2018 (Accumulated Depreciation Increase) 4,000 Plant Assets Purchased (Plant Assets Increase), Finance by Note 30,000 Notes Payable Increased by Amount of Plant Assets Purchase 30,000 Check My Work of Plant Assets Purchase 30,000 Notes Payable Decreased by Amount of Principal Note Payments 14,500 Prepare a statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Zowleski Company Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2018 Cash Flow from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities: Depreciation Expense Accounts Receivable Change Merchandise Inventory Change Accounts Payable Change Net Cash Flow from Operating Activities Cash Flow from Financing Activities: Payment of Notes Payable (principal) Net Cash Flow from Financing Activities Total Cash Flow Increase Cash Balance, December 31, 2017 Cash Balance, December 31 2018 Noncash Investing and Financing Activities: Plant Assets Acquired in Exchange for Notes Payable 4,000 $010 Q 28,600 10 0000 00 Check My Work