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Prepare a statement of cash flow on both the direct and indirect method 2019 2018 Assets: Cash 245,000 120,000 Accounts receivable, net 87,000 65,000 Inventory

Prepare a statement of cash flow on both the direct and indirect method 2019 2018

Assets: Cash 245,000 120,000 Accounts receivable, net 87,000 65,000 Inventory 54,000 60,000 Property, plant & equipment 650,000 600,000 Accumulated depreciation (90,000) (60,000) Total Assets 946,000 785,000 Liabilities & Equity Accounts payable 44,000 40,000 Accrued liabilities 41,000 40,000 Common stock 460,000 460,000 Retained earnings 401,000 245,000 Total liabilities and equity 946,000 785,000 Sales 1,150,000 Cost of goods sold 625,000 Gross profit 525,000 Operating expenses 180,000 Pre-tax income 345,000 Income taxes 69,000 Net income 276,000

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