PROBLEM 2-7 The financial statements for the JHJ Book Store are as follow INCOME STATEMENT 2013 Sales Cost of Books Sold Gross Profit Operating Expenses Depreciation Gain on sale of land Net Income 3,000,000 500,000 300,000 400.000 250,000 50,000 BALANCE SHEET 2013 2013 300,000 200,000 350,000 450,000 (75,000) Cas Accounts Receivable Inventory 125,000 150,000 100,000 (25,000) Equipment Accumulated Depreciation Land Total Assets Accounts Payable Long Term Bond Payable 100,000 100,000 250,000 50,000 Total Liabilities Common Stock 50,000 Retained Earnings Total Stockholders 125,000 25000 1225,000 Total Liabilities+ Stockholders 550,000 Required: Prepare Statement ofCash Flows