Partial Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2019 Operating Activities: Adjustments to Reconcile Net Income to Cash Flows from Operating Activities: Changes in Current Assets and Liabilities Net Cash Provided (Used) by Operating Activities Barrons Company Statement of Net Income For the Year Ended December 31, 2019 Sales $ 352,000 (38,000) Depreciation Expense Selling, General, and Administrative Expenses Gain on Sale of Equipment (115,000) 7,300 (10,000) Other Expenses Income before Taxes 196,300 (57,850) Tax Expense $ 138,450 Net Income December 31 Select Balance Sheet Accounts 2018 2019 $ 36,000 $ 35,800 Cash Investments (noncurrent) 22,000 39,500 Prepaid Rent 244,500 283,600 Accounts Payable 121,600 138,000 Income Taxes Payable 4,000 5,600 Long-Term Debt 193,200 180,200 Common Stock 244,800 301,400