EIGA-28 Preparing the statement of cash flows-direct method The income statement and additional data of Rolling Hills Corporation follow: $770.000 107.000 Cast of Good Sold Grono 346.000 20,000 11.000 5.000 27,000 Depreciation Dent Aws Adorthing pense Total Operating Expenses Operating income Other Revenue and Expert Didendeve Interest Espense Yobil Other Revenue and Expres Not income Before Income Taxe Income Tax Experise Net Income 10,500 B.000) 7,500 4400 8,000 36,500 a. Collections from customers are $14,000 more than sales b. Dividend revenue, interest expense, and income tax expense equal their cash amount c Payments to suppliers are the sum of cost of goods sold plus advertising expense d. Payments to employees are $1,500 more than salaries expense. e Canh payment for the acquisition of plant assets is $108.000 1 Cash receipts from sale of land total $25,000_ 9. Cash receipts from issuance of common stock total $31.000. h. Payment of long-term notes payable is $17,000 i. Payment of dividends is $12,000. 1. Cash balance at June 30, 2015, was $28,000; at June 30, 2016, it was $24,000 Prepare Rolling Hills Corporation's statement of cash flows for the year ended June 30, 2016. Use the direct method