prepare a statement of cash flows

Blue Company Balance Sheet December 31, Current Year Prior Year Assets Current assets Cash Accounts receivable Total current assets 5,000 20,000 25,000 10,000 15,000 25,000 Property, plant, and equipment Property, plant, and equipment Accumulated depreciation Property, plant, and equipment, net 205,000 200,000 (110,000) (100,000) 95,000 100,000 Total Assets 120,000 125,000 Liabilities and Stockholders' Equity Current liabilities Accounts payable Accrued liabilities Total current liabilities 10,000 25,000 35,000 15,000 20,000 35,000 Bonds payable 30,000 50,000 Total liabilities 65,000 85,000 Stockholders' equity Common stock Retained earnings Total stockholders' equity 5,000 50,000 55,000 5,000 35,000 40,000 Total Liabilities and Stockholders' Equity 120,000 125,000 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 a cash dividend during the year. Blue Company Income Statement For the current year ended December 31 Sales COGS Gross margin Selling and administrative expenses Net operating income Loss on sale of equipment Income before taxes Income taxes Net income 300,000 200,000 100,000 50,000 50,000 (5,000) 45,000 13,000 32,000