Prepare a cash flow statement for General Motors Company for the year ended December 31, 2024, using the following information:

• Cash balance at the beginning of the year: $150,000
• Net income: $700,000
• Depreciation expense: $80,000
• Changes in working capital:
  • Accounts Receivable: $40,000
  • Inventory: -$20,000
  • Accounts Payable: $30,000
  • Prepaid Expenses: -$12,000

Analyze the cash flow activities for the year.