PART 6: STATEMENT OF CASH FLOWS 20 POINTS Diamond Corp. has provided the following information for the year ended December 31, 2018 Diamond Corp Comparative Balance Sheet December 31, 2018 and 2017 Locom ROOM 18 Red 4 1 . TY Total TH Diamond Corp Income Statement Year ended December 31, 2018 Sales Revenue S291,300 Interest Revenue 1,000 Gain on Sale of Plant Assets 6.000 Total Revenues and Gains S298,300 Cost of Goods Sold 145,000 Salaries and Wages Expense 49,000 Depreciation Expense Plant Assets Other Operating Expense 25,000 Interest Expense 3,500 Income Tax Expense 7.800 Total Expenses 246,300 Net Income $52.000 16.000 Additional information provided by the company includes the following: Equipment costing $60,000 was purchased for cash. Equipment with a net book value of $10,000 was sold for S16,000 Depreciation expense of $16,000 was recorded during the year During 2018, the company repaid $43.000 of long-term notes payable. During 2018, the company borrowed 534,000 on a new long-term note payable. There were no stock retirements during the year. There were no sales of treasury stock during the year. All sales are on credit Prepare the 2018 statement of cash flows, using the indirect method. PART 6: STATEMENT OF CASH FLOWS 20 POINTS Diamond Corp. has provided the following information for the year ended December 31, 2018. Diamond Corp Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 and 21.01.000 A Reve 191KO:200 Mereka mesta Act Tal Assets SHOES Accounts Payable LAN es 59.000 TO TOWN 4.00 58.000 3,000.00 15.00 TSIN TS Touched 300 Diamond Corp Income Statement Year ended December 31, 2018 Sales Revenue S291,300 Interest Revenue 1,000 Gain on Sale of Plant Assets 6.000 Total Revenues and Gains $298,300 Cost of Goods Sold 145,000 Salaries and Wages Expense 49,000 Depreciation Expense Plant Assets Other Operating Expense 25,000 Interest Expense 3,500 Income Tax Expense 7.800 Total Expenses 246,300 Net Income $52.000 16,000 Additional information provided by the company includes the following: Equipment costing $60,000 was purchased for cash. Equipment with a net book value of $10,000 was sold for $16,000. Depreciation expense of S16,000 was recorded during the During 2018, the company repaid $43,000 of long-term notes payable. During 2018, the company worrower 34,000 on a new year. ar 2018 2017 530.00 28.03.2007.000 Ca AR at Fan Art TA 12.90 74 99.54.000 ALAR Lom NP (TAMIL Stock 55.000 300.00 Red 115200 15000 Try Sc FOOD ISODES Tool Lesbe Stedes E SEX Diamond Corp Income Statement Year ended December 31, 2018 Sales Revenue $291,300 Interest Revenue 1.000 Gain on Sale of Plant Assets 6,000 Total Revenues and Gains $298,300 Cost of Goods Sold 145,000 Salaries and Wages Expense 49,000 Depreciation Expense-Plant Assets Other Operating Expense 25,000 Interest Expense 3,500 Income Tax Expense 7.800 Total Expenses 246,300 Net Income $52.000 16,000 Additional information provided by the company includes the following: Equipment costing $60,000 was purchased for cash. Equipment with a net book value of $10,000 was sold for $16,000 Depreciation expense of $16,000 was recorded during the year. During 2018, the company repaid $43.000 of long-term notes payable. During 2018, the company borrowed $34.000 on a new long-term note payable. There were no stock retirements during the year. There were no sales of treasury stock during the year. All sales are on credit. Prepare the 2018 statement of cash flows, using the indirect method