P16-36A The 2008 comparative balance sheet and income statement of Digital Subscriptions, Inc., follow. DigitalSubscriptions had no noncash investing and financing trans- actions during 2008. During the year, there were no sales of land or equipment, no issuances of notes payable, no retirements of stock, and no treasury stock transactions. Requirements 1. Prepare the 2008 statement of cash flows, formatting operating activi- ties by the indirect method. (pp. 791-792) 2. How will what you learned in this problem help you evaluate an investment? (pp. 784-786) DAS BRITIONS UNS Alan Sis December 31, Increase 2008 2007 (Decrease) 26 700 S 18,700 S 8,000 oso 33, 100 3,400 $4,300 99,900 (5,600) Current assez Cash and cash equivalent account estrabie Inventories Pinset Land Land Eroproente Total assets Glacutable Accounts payabis 39 toehnilge Long-term habilities: arabis Stockholdenequity Commen Retained earnings Total:labilities anges nequity 35,100 10,000 25,100 201900 293,200 720, 15293,500 $255,400 $38.100 TENTO $ 31,100 5.29,800 $ 1.300 318700180600s. ( $5,000 63.000 (10,000) 31400 122.300.300 8,500 58,200 19,600 39,600 $2933065255400S37100 C ALSUBSCRIONS INC acom lamang Free - een Sales revenue $438.000 111.700 449,700 Total revenues Cost of goods sola Sansar Depreciation expense was SORCOLE Interest expense Sincome Total expenses Na icons S205,200 298300 15,300 UOO 24.600 903 388.100 US 6600 Appendix 16A: Direct Method