Problem 17-08A (Part Level Submission) The following are the financial statements of Nosker Company. 2019 NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 Cash $38,000 Accounts receivable 32,100 Inventory 30,800 Equipment 60,000 Accumulated depreciation-equipment (29,900) Total $131,000 $19,000 19,800 21,000 77,300 (23,700) $113,400 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,400 7,300 27,200 17,700 50,400 $131,000 $ 16,300 8,100 33,300 14,500 41,200 $113,400 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,400 7,300 27,200 17,700 50,400 $131,000 $ 16,300 8,100 33,300 14,500 41,200 $113,400 NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net Income $242,300 176,600 65,700 23,100 42,600 4,000 38,600 8,600 $30,000 Additional data: 1. Dividends declared and paid were $20,800. 2. During the year, equipment was sold for $9,000 cash. This equipment cost $17,300 originally and had a book value of $9,000 at the time of sale. 3. All depreciation expense, $14,500, is in the operating expenses 4. All sales and purchases are on account. Further analysis reveals the following 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. (a) Prepare a statement of cash flows for Nosker Company using the direct method. (Show amounts that decrease cash flow with either a .. (15,000).) sign e.g.-15,000 or in parenthesis NOSKER COMPANY Statement of Cash Flows cash payments: