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Given is the Income Statement for the year ended December 31, 20XX, Statement of Retained Earnings for the year ended December 31, 20XX and Comparative

Given is the Income Statement for the year ended December 31, 20XX, Statement of Retained Earnings for the year ended December 31, 20XX and Comparative Balance Sheets for 20XW and 20XX of Maris Corporation:

Maris Corporation Income Statement Year Ended December 31, 20XX
Sales $3,400,000
Cost of goods sold 1,950,000
Gross profits 1,450,000
Selling and administrative expense 600,000
Amortization expense 200,000
Operating income 650,000
Interest expense 50,000
Earnings before taxes 600,000
Taxes 400,000
Earnings after taxes 200,000
Preferred stock dividends 20,000
Earnings available to common shareholders $180,000
Shares outstanding 100,000
Earnings per share $1.80

Statement of Retained Earnings For the Year Ended December 31, 20XX
Retained earnings, balance, January 1, 20XX $869,000
Add: Earnings available to common shareholders, 20XX 180,000
Deduct: Cash dividends declared and paid in 20XX 100,000
Retained earnings, balance, December 31, 20XX $949,000

Comparative Balance Sheets For 20XX and 20XW
December 31, 20XX December 31, 20XW
Assets
Current assets:
Cash $120,000 $39,000
Accounts receivable (net) 500,000 490,000
Inventory 620,000 600,000
Prepaid expenses 30,000 61,000
Total current assets 1,270,000 1,190,000
Investments (long-term securities) 80,000 90,000
Plant and equipment 2,400,000 2,000,000
Less: Accumulated depreciation 1,120,000 920,000
Net plant and equipment 1,280,000 1,080,000
Total assets $2,630,000 $2,360,000
Liabilities and Shareholders Equity
Current liabilities:
Accounts payable $400,000 $251,000
Notes payable 500,000 500,000
Accrued expenses 41,000 50,000
Total current liabilities 941,000 801,000
Long-term liabilities:
Bonds payable, 20XY 150,000 100,000
Total liabilities 1,091,000 901,000
Shareholders equity:
Preferred stock 90,000 90,000
Common stock 500,000 500,000
Retained earnings 949,000 869,000
Total shareholders equity 1,539,000 1,459,000
Total liabilities and shareholders equity $2,630,000 $2,360,000

Prepare a statement of cash flows for the Maris Corporation. (Amounts to be deducted should be indicated with a minus sign. Omit $ sign in your response.)

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