last three digits of student number :956

The Statement of financial position account balances as at December 31, 2019 and 2018 and Income statement of Ravioli Inc. are presented below: Statement of Financial Position Account Balances December 31 2019 2018 Cash $58,XXX $18,000 Accounts receivable, net 40,000 32,XXX 42,500 38,200 67,000 88,000 Inventory Building and equipment Accumulated depreciation Accounts payable (31,000) (35,000) $21,000 $18,500 3,800 7.XXX Salaries payable L-T Debt Payable 25,000 ON 7.XXX 5,000 Common shares 119,700 110,700 Retained earnings Replace XX with the last three digits of your student number. Ravioli Inc. Income Statement For the Year Ended December 31, 2019 $125,000 Sales 48.000 77,000 7,000 8,000 Cost of goods sold Gross profit Gain on Sale of equipment Depreciation expenses Salaries expenses Other Operating Expenses Operating income 41.000 16.000 19,000 6,000 income taxes $13.000 Profit Additional information: 1.) Equipment was purchased during the year for $10,000 cash. 2.) Another piece of equipment was sold during the year. It had accumulated depreciation of $ 12,000. The gain on sale of this equipment is recorded in Income statement. Hint: The first step is to calculate the cost of the equipment sold, using information in 1.) and Building and Equipment account balances. 3.) Dividends were declared and paid during the year. Prepare the statement of cash flows for 2019 using the indirect method. You MUST list all items in the same order as they appear on the Statement of Cash Flows in proper format. You do not have to insert the table to present your work