GLENWOOD COMPANY Financial Data for December 31, 2014 and 2015 2014 2015 Cash Accounts Receivable $ 23,925 43,050 $39,825 $ 34,125 3,600 $ 146,475 $ 156,000 135,825 S 47,550 61,950 Prepaid Expenses 1,650 $ 146,700 Equipment Accumulated Depr-Equipment Total Assets 311,025 310,650 5,100 Income Taxes Payable $ 4,425 S Accounts Payable Dividends Payable $33,750 4,500 S Mortgage Bonds Payable Common Stock at $10 par 37.500 $ 168,750 168,750 Retained Earnings $ 62,100 $ 108,000 $ 311,025 310,650 Total Liabilities and Equity $446,800 700 222,300 $ 100,000 $ 20,300 $25,500 3,300 -Sales Discounts Cost of Goods Sold Selling Expenses G&A Expenses Depreciation Expenses Loss on sale of equipment Income before taxes Loss on retirement of mortgage bonds Income tax expenses $ 73,875 825 $13,725 a. Equipment costing $21,375 with accumulated depreciation of $11,100 is sold for cash. b. Equipment purchases are for cash All sales are made on credit, all inventory on credit. epare the Operating Activities Section of the Statement of Cash Flows for December 31,2015 ing the Indirect Method. Extra credit for preparation of other sections of the statement