JJP info for the last two years Balance sheets

Balance Sheet Year $2$ Year $1$

Assets

Current Assets

Cash $$17,000$ $$12,000$

Accounts receivable $60,00040,000$

Inventory $84,00070,000$

Prepaid Expenses $6,0004,000$

Long term assets

Equipment $250,000210,000$

Accumulated Dep. Plant assets $(60,000)(48,000)$

Total Assets $$357,000$ $$288,000$

Liabilities

Current Liabilities

Accounts Payable $35,00040,000$

Interest Payable $3,0004,000$

Income taxes payable $22,00012,000$

Dividends Payable $00$

Long$-$term liabilities

Long term notes payable $90,00064,000$

Total Liabilities $$150,000$ $$120,000$

Stockholders$$ Equity

Common Stock $$5$ par $95,00080,000$

Retained Earnings $112,00088,000$

Total Stockholders Equity $207,000168,000$

Total Liab. And Stockholders Equity $ $357,000$ $$288,000$

JJP Income Statement last year

Income Statement Year $2$

Sales Revenue $ $590,000$

Costs of Goods Sold $300,000$

Gross Profit $290,000$

Operating Expenses

Other Operating Expense $$216,000$

Depreciation Expense$-$Plant Assets $24,000$

Interest Expense $7,000$

Total Operating Expenses $247,000$

Operating Income $43,000$

Other Revenue and Expenses

Loss on Sale of Plant Assets $(6,000)$

Gain on retirement of bonds $16,000$

Total other Rev and Exp. $10,000$

Net Income Before Taxes $53,000$

Income Tax Expense $(15,000)$

Net Income $$38,000$

Additional transaction data

A$.$ The accounts payable balances result from inventory purchases.

B$.$ Purchased $$60,000$ in plant assets by issuing $$60,000$ of notes payable.

C$.$ Sold plant assets with a book value of $$8,000($original costs of $$20,000$ and accumulated depreciation of $$12,000)$ for $$2,000$ cash, yielding a $$6,000$ loss.

D$.$ Received $$15,000$ cash from issuing $3,000$ shares of common stock.

E$.$ Paid $$18,000$ cash to retire notes with a $$34,000$ book value, yielding a $$16,000$ gain.

F$.$ Declared and paid cash dividends of $$14,000$

Required:

$1.$ Develop a Statement of Cash Flows for JJP for the $2$nd year ending December $31,20$xx$.$