MMA Live Strea X WP HW Ch.14 education.wiley.com 15.56 Mon 27 Jun Course: Intr Sem2_RPS_MJ X Logon X 50146005-MJNX C' (HWCH 14 Question 3 of 3 < > Accrued expenses payable Total 10,000 17,000 692,950 514,750 Windsor SA Income Statement For the Year Ended December 31, 2020 Sales revenue Gain on disposal of plant assets 392,784 5,000 397,784 Less: Cost of goods sold 135,458 Operating expenses, excluding depreciation 12.408 Depreciation expense 45,000 Income tax expense 27,284 Interest expense 4.734 224,884 Net income 172,900 Additional information: 1. New equipment costing 80,000 was purchased for cash during the year. -/50 2 Old equipment having an original cost of 57,500 and accumulated depreciation of 50,000 was sold for 12,500 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of 43,900 was declared and paid during the year. Further analysis reveals that accounts payable pertain to merchandise creditors. Prepare a statement of cash flows for Windsor using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) WINDSOR SA Statement of Cash Flows For the Year Ended 44% WP NWP Assessme X + 8