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,llows: Additional information pertaining to 2021 : 1. Net income was $114,000. 2. Sales were $996,000. 3. Cost of goods sold was $759,000. 4. Operating
,llows: Additional information pertaining to 2021 : 1. Net income was $114,000. 2. Sales were $996,000. 3. Cost of goods sold was $759,000. 4. Operating expenses were $50,000, exclusive of depreciation expense. 5. Depreciation expense was $41,000. 6. Interest expense was $12,000. 7. Income tax expense was $25,000. 8. Long-term investments were sold at a gain of $5,000. 9. No equipment was sold during the year. 10. $27,000 of the bank loan was repaid during the year. 11. Common shares were issued for $20,000. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 45,000 , or in parenthesis e.g. (45,000).) $ $ $ v^ v^
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