Prepare a statement of cash flows for Bankhead, Inc. for the year ended December 31, 2018 using the direct method. For those boxes in which you must enter subtractive or negative numbers use a minus sign.

Statement of Cash Flows (Direct Method) Financial statement data for Bankhead, Inc., are provided. All numbers are shown rounded to the nearest thousand, with 000's omitted.) If the item has alternative classification, do not classify it as operating cash flows. Bankhead, Inc. Statement of Comprehensive Income and Statement of Retained Earnings For the Year Ended December 31, 2018 Sales revenue $2,800 Cost of goods sold 2,070 Gross margin $730 Operating expenses: Sales and administrative expenses $210 Depreciation expense 34 Other expenses 161 Total operating expenses $405 Income before income tax $325 Income tax 81 Net income $244 Dividends paid 60 Increase in retained earnings $184 2017 $1,224 Bankhead, Inc. Comparative Balance Sheets December 31, 2018 and 2017 2018 Assets Cash and cash equivalents $1,566 Accounts receivable (net) 911 Inventory 500 3,000 Store fixtures 500 Accumulated depreciation, store fixtures (144) Total assets $6,333 896 1,960 Land 2,600 500 (110) $7,070 $624 $842 1,147 1,460 1,658 2,048 $3,429 $4,350 Liabilities and Equity Liabilities: Accounts payable Short-term notes payable Long-term debt Total liabilities Equity: Common stock Paid-in capital in excess of par Retained earnings Total equity Total liabilities and equity $280 $280 1,000 1,000 1,624 1,440 $2,720 $2,904 $6,333 $7,070 Prepare a statement of cash flows for Bankhead, Inc. for the year ended December 31, 2018 using the direct method. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Bankhead, Inc. Statement of Cash Flows (Direct Method) For the Year Ended December 31, 2018 (Dollars in Thousands) Cash flows from operating activities: Cash receipts from: Cash payments for: Net cash flows provided by operating activities Cash flows from investing activities: ni bil 0 vois Net cash flows used in investing activities Cash flows from financing activities: Net cash flows used in financing activities Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year