Please create a statement of cash flow.

On the attached report form prepare a Cash Flow Statement using the information given below. Use the indirect method. $350,000 Schubert Music Company Income Statement For the Year Ended June 30, 20x2 Net Sales Less Expenses Cost of Goods Sold $200,000 Depreciation Expense 20,000 Administrative Expenses 52,000 Selling Expenses 45,000 Loss on Sale of Investment 500 Total Expenses Net Income 317,500 $ 32,500 Schubert Music Company Comparative Balance Sheets June 30, 20x2 and 20x1 Assets 20x2 20x1 Cash $ 4,500 $ 15,000 Accounts Receivable (net) 35,000 27,500 Inventory 40,000 50.000 Prepaid Expenses 3,000 2,500 Long-Term Investments 20,000 25,000 Plant and Equipment 80,000 40,000 Accumulated Depreciation (20,000) (12,000) Total Assets $162,500 $148,000 Liabilities Accounts Payable $ 2,000 $ 6,000 Wages Payable 220 260 Taxes Payable 780 740 Notes Payable 20,000 12,000 Total Liabilities $ 23,000 $ 19,000 Stockholders' Equity Common Stock $ 58,000 $ 65,000 Retained Earnings 81,500 64,000 Total Stockholders' Equity $139,500 $129,000 Total Liabilities and Stockholders' Equity $162,500 $148,000 Additional information: A plant asset costing $20,000 was sold for its book value of $8,000. A long-term investment was sold for $4,500. The outstanding notes are long-term. An $8.000 note was issued during 20x2. 2