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Leviathan Manufacturing makes and sells integrated circuit boards. At the end of 2018, the income statement and comparative balance sheet were prepared as shown below. Leviathan Manufacturing Balance Sheet As at November 30 2018 2017 Assets Current Assets Cash Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets $321,045 $127,500 $232,500 $257,400 $517,000 $456,400 $22,200 $22,200 $1,092,745 $863,500 Noncurrent Assets Land Equipment Less: Accumulated Depreciation Total Noncurrent Assets $21,200 $339,700 $339,700 $-109,200 $-96,000 $230,500 $264,900 $1,323,245 $1,128,400 Total Assets Liabilities Current Liabilities Accounts Payable Notes Payable, Current Portion Total Current Liabilities Notes Payable, Long-Term Portion $311,900 $327,000 $33,200 $28,800 $345,100 $355,800 $207,100 $195,500 $552,200 $551,300 Total Liabilities Stockholders' Equity Common Stock $272,000 $242,000 Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Equity $272,000 $242,000 $499,045 $335,100 $771,045 $577,100 $1,323,245 $1,128,400 Additional Information: During 2018, land was sold for a loss of $3,400. There was no purchase of equipment throughout the year. The company did not pay any amount of the notes payable. Leviathan Manufacturing Income Statement For the Year Ended November 30, 2018 Sales $2,505,000 Cost of Goods Sold $1,503,000 Gross Profit $1,002,000 Operating Expenses Depreciation Expense $13,200 Other Operating Expenses $670,100 Total Operating Expenses $683,300 Income from Operations $318,700 Other Income Loss on Sale of Land Income before Income Tax $-3,400 $315,300 $110,355 $204,945 Income Tax Net Income Create the cash flow statement using the indirect method. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Leviathan Manufacturing Cash Flow Statement For the Year Ended November 30, 2018 Cash Flow from Operating Activities Net Income Adjustments to Reconcile Net Income to Cash Depreciation Loss on Sale of Land Change in Operating Assets and Liabilities Decrease in Accounts Receivable Increase in Merchandise Inventory Decrease in Accounts Payable Net Cash Provided (Used) by Operating Activities Cash Flow from Investing Activities Sale of Land Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Proceeds from Notes Payable Payment of Cash Dividend Issue of Common Stock Net Cash Provided (Used) by Financing Activities Net Increase (Decrease) in Cash Cash at the Beginning of the Year Cash at the End of the Year