For a statement of cash flows prepared from scratch, you have to follow proper format and come up with the correct line descriptions and calculate the numerical portion. Instructions: 1. Save this document on your hard drive: Ch 12 Stmt of Cash Flows Assignment v4 (blank).docx 2. Open the document which contains the assignment and prepare the statement of cash flows in accordance with the directions provided DIRECTLY ON THE TABLE OF THE DOCUMENT. Do not change the formatting of the table; the lines and cells are formatted to accommodate the spacing requirements. 3. Submit the finished assignment document using the upload function. Income before income taxes Income tax expense Net income 32,000 3.000 S 29.000 A comparative balance sheet, income statement, and additional financial information for Appalachian Mountain Company appear below: Appalachian Mountain Company Balance Sheets December 31 Additional information: 1. Dividends declared and paid were $10,000. 2. Plant assets with an original cost of $28,000 and a book value of $20,000 was sold for $22,000 cash. 2020 2019 $ $ Assets Cash Accounts receivable Merchandise inventory Plant assets Accumulated depreciation Total 60.000 21,000 22,000 50,000 (20.000 133.000 25.000 34,000 15,000 78,000 (24,000) 128,000 Instructions: Using the indirect method, prepare a statement of cash flows for the year ended December 31, 2020 in accordance with generally accepted accounting principles. Skip supplemental cash flow information. Prepare the statement in the table provided. $ $ $ Liabilities and Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total 13,000 13,000 10,000 40,000 57.000 133.000 21,000 10,000 35,000 24,000 38.000 128.000 Appalachian Mountain Company Income Statement For Year Ended December 31, 2020 $ 350,000 280.000 70,000 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Depreciation expense Income from operations Gain on sale of plant assets Interest expense 20,000 12,000 4,000 _36.000 34,000 2,000 4.000 2.000