NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2015 Cash $35,960 Accounts receivable 32,080 Inventory 26,730 Equipment 59,240 Accumulated depreciation-equipment (29,160) Total $124,850 2014 $19,450 18,970 20,420 77,850 (23,490) $113,200 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,920 7,380 26,010 17,010 45,530 $124,850 $ 16,420 8,390 33,460 13,850 41,080 $113,200 NOSKER COMPANY Income Statement For the Year Ended December 31, 2015 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $241,440 176,520 64,920 23,850 41,070 3,590 37,480 7,090 $30,390 Additional data: 1. Dividends declared and paid were $25,940. 2. During the year equipment was sold for $7,620 cash. This equipment cost $18,610 originally and had a book value of $7,620 at the time of sale. 3. All depreciation expense, $16,660, is in the operating expenses. 4. All sales and purchases are on account. si es man na algement ce o ordenady and had a bok valle 9.30 a one time et se Prepare a statement of cash flows using the indirect method. (show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) NOSKER COMPANY Statement of Cash Flows For the Year Ended December 31, 2015 Adjustments to reconcile net income to