Given the balance sheet and income statement above, prepare a statement of cash flows for Abrahams Manufacturing Company for the year ended December 31, 2015.

Additional Information

1. The only entry in the accumulated depreciation account is for 2015 depreciation.

2. The firm paid $22,000 in common stock dividends during 2015.

Abrahams Manufacturing Company Balance Sheet for 12/31/2014 and 12/31/2015 2014 2015 Cash S 89,000 84,000 112,000 10,000 S 275,000 238,000 (40,000) S 473,000 S 85,000 88,000 S 153,000 70,000 S 100,000 70,000 100,000 10,000 S 280,000 311,000 (66,000) S 525,000 S 90,000 83,000 S 153,000 Accounts receivable Prepaid expenses Total current assets Gross plant and equipment Accumulated depreciation Total assets Accounts payable Accrued liabilities Total current debt Mortgage payable Preferred stock Common stock Retained earnings Total debt and equity 205,000 45,000 S 473,000 120,000 205,000 47,000 S 525,000 Abrahams Manufacturing Company Income Statement for the Year Ended 12/31/2015 2015 Sales Cost of goods sold Gross profit Selling, general and administrative expenses Depreciation expense Operating income Interest expense Earmings before taxes Taxes Preferred stock dividends Earnings avsilable to common stockholders $184,000 80,000 $ 124,000 44,000 28,000 $ 54,000 4,000 $ 50,000 6,000 10,000 $ 24,000