Please help with the Statement of cash flows.

Answer is complete and correct. Required information Exerclse 9-8A (Algo) Current llabllitles LO 91,92,94 [The following information applles to the questions displayed below.] The following transactions apply to Ozark Sales for Year 1: 1. The business was started when the company recelved $48,500 from the issue of common stock. 2. Purchased equipment Inventory of $175,500 on account. 3. Sold equipment for $195,500 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $120,500. 4. Provided a slx-month warranty on the equipment sold. Based on Industry estimates, the warranty clalms would amount. to 4 percent of sales. 5. Pald the sales tax to the state agency on $145,500 of the sales. 6. On September 1, Year 1, borrowed $21,000 from the local bank. The note had a 6 percent Interest rate and matured on March 1, Year 2. 7. Pald $5,600 for warranty repalrs during the year. 8. Pald operating expenses of $53,500 for the year. 9. Pald $126,000 of accounts payable. 10. Recorded accrued interest on the note issued in transaction no. 6. b-1. Prepare the Income statement for Year 1. Note: Round your answers to the nearest dollar amount. Answer is complete but not entirely correct. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ OZARK SALES } \\ \hline \multicolumn{3}{|l|}{ Statement of Cash Flows } \\ \hline \multicolumn{3}{|c|}{ For the Year Ended December 31, Year 1} \\ \hline \multicolumn{3}{|l|}{ Cash flows from operating activities: } \\ \hline Inflow from customers & 195,500 & \\ \hline Inflow from sales tax & 13,6850 & \\ \hline Outflow to purchase inventory & 0x & \\ \hline Outflow for sales tax & (10,185) & \\ \hline Outflow for expenses & 08 & \\ \hline Net cash flows from operating activities & & 199,000 \\ \hline \multicolumn{3}{|l|}{ Cash flows from investing activities: } \\ \hline \multicolumn{3}{|l|}{ Cash flows from financing activities } \\ \hline Inflow from stock issue & 48,5000 & \\ \hline Inflow from loan & 21,0000 & \\ \hline Net cash flows from financing activities & & 69,500 \\ \hline Net change in cash & & 268,500 \\ \hline Plus: Eeginning cash balance & & \\ \hline Ending cash balance & & 268,500 \\ \hline \end{tabular}