prepare a statement of cash flow's based on the preceding information.

B 1 Blue Company 2 Income Statement 3 For the current year ended December 31 4 300,000 5 Sales 6 COGS 200,000 7 Gross margin 100,000 8 Selling and administrative expenses 50,000 9 Net operating income 50,000 10 Loss on sale of equipment (5,000) 11 Income before taxes 45,000 12 Income taxes 13,000 13 Net income 32,000 14 15 16 17 8 9 0 1 2 Current Year Prior Year 7,000 22.000 29,000 10,000 15,000 25,000 1 Blue Company 2 Balance Sheet 3 December 31, 4 5 Assets 6 Current assets 7 Cash 8 Accounts receivable 9 Total current assets 10 11 Property, plant, and equipment 12 Property, plant, and equipment 13 Accumulated depreciation 14 Property, plant, and equipment, net 95 36 Total Assets 17 18 Liabilities and Stockholders' Equity 9 Current liabilities Accounts payable 1 Accrued liabilities 2 Total current liabilities 3 + Bonds payable 205,000 200,000 (110,000) *** 95,000 100,000 124,000 125,000 12,000 25,000 37,000 15,000 20,000 35,000 30,000 50,000 Total liabilities 67,000 85,000 Stockholders' equity Common stock Retained earnings Total stockholders' equity 5,000 52,000 57,000 5,000 35,000 40,000 Total Liabilities and Stockholders' Equity 124,000 125,000 Additional Information The company sold equipment that had an original cost of $20,000 and accumulated depreciation of $10,000. The cash proceeds from the sale were $5,000 The company paid cash dividend during the year