Instructions:

On the next page prepare a Complete Statement of Cash Flows in good form (organized and labeled) for the year ended December 31, 2019 using the Indirect Method.

Dec. 31, 2018 Problem 1: (20 points) A comparative balance sheet for Bobcat Health Supplies, Inc. appears below: Bobcat Health Supplies, Inc. Comparative Balance Sheets as of Dec. 31, 2019 Assets Cash $ 79,000 $ 5,000 Accounts receivable 25,000 Inventory 65,000 30,000 Equipment 40,000 Accumulated depreciation equipment _(16,000 (20,000 90,000 60,000 Total assets $193,000 $165.000 $ 20,000 40,000 Liabilities and Stockholders' Equity Accounts payable Bank Loan (due in 2024) Common stock Retained earnings Total liabilities and stockholders' equity $ 35,000 45,000 60,000 58,000 $193,000 60,000 40,000 $165.000 Additional information: 1. Net Income was $ 24,000 for the year ending December 31, 2019. 2 Equipment was sold during the year for $ 17,000. The original cost of the was $ 20,000 and the accumulated depreciation on the equipment at the time of sale was $ 13,000. 3. Depreciation Expense was $ 9,000 in 2019. 4. Cash dividends of $ 6,000 were declared and paid during the year