OZK Corporation reported Net Income of $100,000 for 2015.

The Income Statement revealed Sales of $1,000,000;

Gross Profit of $520,000;

Selling and Administrative Expenses of $340,000;

Interest Expense of $20,000; and Income Taxes of $60,000.

The Selling and Administrative Expenses included $25,000 for Depreciation.

No equipment was sold during the year. Equipment purchases were made with Cash, Prepaid Insurance included in the balance Sheet related to Administrative Expenses.

All Accounts Payable included in the Balance Sheet relate to Inventory purchases.

The change in Retained Earnings is attributable to Net Income and Dividends.

The increase in Common Stock and Additional Paid-In Capital is due to issuing additional Shares for Cash.

Comparative Balance Sheets for OZK Corporation follow.

OZK Corporation Comparative Balance Sheets as on December 31, 2015 and 2014 Assets Cash Accounts receivable (net) Inventory Prepaid insurance Land Building and Equipment Accumulated Depreciation on Furniture and Fixtures 2015 $ 458,700 199,250 248,600 13,000 250,000 1,500,000 2014 $ 471,450 171,500 278,800 11,000 250,000 1,300,000 (205,000) (180,000). Total Assets 2,464,550 2,302,750 Liabilities Accounts Payable Interest Payable Income Taxes Payable 85,700 10,500 22,000 93,400 15,000 8,000 Stockholders' Equity Common Stock Paid-in Capital in Excess of Par Value Retained Earnings 710,000 990,000 646,350 700,000 900,000 586,350 Total Liabilities & SHE 2,464,550 2.302.750 TASKS 1. Using the Indirect method, prepare a Statement of Cash Flows 2. Prepare Net Cash Flows only from Operating Activities under the Direct method