Given the Comparitive Balance Sheets, Income Statement and information below, prepare the Cash Flow Statement. Kalchele Company BALANCE SHEET(S) 2008 2007 CASH 1,800 1,150 ACC RECEIVABLE 1,750 1,300 INVENTORIES 1,600 1,900 EQUIPMENT, PLANT ASSETS 1,900 1,700 ACC DEPRECIATION (1,200) (1,170) INVESTMENT 1,300 1,420 TOTAL ASSETS 7,150 6,300 ACC PAYABLE ACCRUED LIABILITIES BONDS PAYABLE COMMON STOCK, $1 PAR RETAINED EARNINGS TOTAL LIAB AND EQUITY 1,200 200 1,400 1,900 2,450 7,150 900 250 1,550 1,700 1,900 6,300 INCOME STATEMENT-2008 SALES COGS GROSS MARGIN SELLING AND GA EXPENSES INCOME FROM OPERATIONS GAIN ON SALE OF INVESTMENTS INCOME BEFORE TAX INCOME TAX EXPENSE NET INCOME 6,900 4,700 2,200 930 1,270 80 1,350 540 810 a 5 ADDITIONAL INFORMATION During the year, $70 of common stock was issued in exchange for plant assets. 7 No plant assets were sold during the year. b Cash dividends during year paid were $260. 9