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I need help completing the statement of cash flows. To support herself while attending school, Daun Deloch sold stereo systems to other students. During the

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I need help completing the statement of cash flows.
To support herself while attending school, Daun Deloch sold stereo systems to other students. During the first year of operations, Daun purchased the stereo systems for $280,000 and sold them for $390,000 cash. She provided her customers with a one-year warranty against defects in parts and labor. Based on industry standards, she estimated that warranty claims would amount to 2 percent of sales. During the year, she paid $4,220 cash to replace a defective tuner. Required Prepare an income statement and statement of cash flows for Daun's first year of operation. (Statement of Cash Flows only, items to be deducted must be indicated with a negative amount.) DAUN'S STEREOS Income Statement Sales revenue Cost of goods sold Gross margin Warranty expense Net income $ 390,000 280,000 110,000 7.800 102,200 DAUN'S STEREOS Statement of Cash Flows Cash flow from operating activities: Inflow from customers $ 390,000 FORTRETTETYYNYTT . I. 3 TE rol Net cash flow from operating activities $ 390,000 Cash flows from investing Cash flows from financing activities Net change in cash $ 390,000 activiti Ending cash balance $ 390,000 What is Daun's total warranties liability at the end of the accounting period? Total warranties liability $ 3,580

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