prepare a statement of cash flow using the DIRECT method - only operating activities required

2,650 Hooned eamings Total shareholders' equity. Total liabilities and shareholders' equity 21200 3,000 $5,800 3,450 $7,050 .. Income Statement Fiscal year 2013 $6,500 3,400 3,100 1,450 350 Sales revenues Cost of goods sold Gross profit Selling, general and administrative expenses Depreciation expense Operating income Interest expense ..., Income before income tax expense. Income tax expense Net income.. 1,300 350 950 250 S 700 Additional information 1. During fiscal year 2013. Hoskins Corporation wired new equipment for $1.200 in cush. In addition, the company disposed of used equipment that had original cost of SI 300c cumulated depreciation of S700, receiving 5600) in cash from the buyer 2 Dung fiscal year 2013. Hoskins Corporation and short-term bunk tinancing and bor med Sisusing a portion of the cash to repay all of its outstanding long-term debt 3 During fiscal year 2013. Teks Cepuratie en aged in notransactions involving is onde tury share, though it did declare and pay a 2 cash dividend Required Prepare a tement of constall the vections for Hankins Corporation Inscal year 2011 om the dite method for the champions Section assis interest income seperat Canh MacBook Air 000 000 F& F6 F7 79 F10 Preparing a Statement of Cash Flows (Indirect Method) The following financial statements were issued by Hoskins Corporation for the fiscal year en December 31, 2013. All amounts are in millions of U.S. dollars. Balance Sheets December 31, 2012 December 31, 2015 Assets Cash.... $ 300 S 550 Accounts receivable 600 1,500 Inventory 400 500 Prepaid expenses 400 150 Current assets 1,700 2,700 Property, plant and equipment at cost. 6,200 6,100 Less accumulated depreciation.. (2.100) (1.750) Property, plant and equipment, net 4,100 4,350 Total assets S5,800 $7,050 Liabilities and Shareholders' Equity Accounts payable $ 400 S 800 Income tax payable. 200 100 Short-term debt. 1,200 2,700 Current liabilities 1.800 3,600 Long-term debt 1.000 0 Total liabilities 2,800 3,600 Contributed capital B00 800 Hetained onmings. 2.200 2.650 Total shareholders' equity 3.000 3,450 Total liabilities and shareholders' equity $5,800 $7,050 . Income Statement MacBook Air