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Funds Flow Statement. Financial Statements for Quezon Construction Company are given for 2018 and 2019 in summary form. The president of the company is considering

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Funds Flow Statement. Financial Statements for Quezon Construction Company are given for 2018 and 2019 in summary form. The president of the company is considering expansion and would like your views on the firm's ability to generate funds. Quezon Construction Company Income Statement for the Year 2019 (in thousands) Net sales 8,716 Cost of construction billed 5,552 Operating expenses 1,085 Depreciation expense 232 Interest expense 290 Net income 1,557 Quezon Construction Company Balance Sheet as of December 31 (in thousands) 2018 Cash 386 Marketable securities 920 Accounts receivable 1,472 Inventory 746 Plant and equipment, net 3,762 Total Assets 7,286 2019 607 1,320 1,890 1,046 3,816 8,679 856 Accounts payable Bank loans payable Long-term notes payable Common stock Retained earnings Total Liabilities and Stockholders' Equity 482 1,800 2,500 1,648 7,286 831 643 1,200 3,700 2,305 8,679 Required: 1. Prepare a Schedule of Changes in Net Working Capital 2. Prepare funds flow statement using A) Net Working Capital definition of funds, and B) Cash Basis 3. Cash Flow Statement for Quezon Construction Company

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