Prepare a cash flow using INDIRECT METHOD

as of December 31 2018 2017 21,500 120,000 195,000 105,000 180,000225,000 Assets Cash Accounts receivable nventory Long-term investments Totals Liabilities and shareholders equity Accounts payable Operating expenses payable Bonds payable Common stock Retained earnings Totals 60,000 $396,500 $510,000 $75,000 $120,000 24,000 70,000 100,000 125,000 125,000 102.500 150,000 S396.500 $510,000 15,000 Wentworth Company Income Statement For the Year Ended December 31, 2018 $560,000 Sales Cost of goods sold $225,000 330.000 555.000 180.000 Beginning inventory Purchases Goods available for sale Less: ending inventory Cost of goods sold Gross profit Operating expenses Income from operations Other expenses 185,000 5,000 oss on sale of long-term investment et loss