Problem 3-13 (similar to) Question Help o (Working with a statement of cash flows) Given the balance sheet, :, and income statement, :prepare a statement of cash flows for Abrahams Manufacturing Company for the year ended January 31, 2018. Additional Information 1. The only entry in the accumulated depreciation account is for 2018 depreciation. 2. The firm paid $18,496 in common stock dividends during 2018. Complete the operating activities part of the statement of cash flows: (Round to the nearest dollar. NOTE: Input cash inflows as positive values and cash outflows as negative values.) Statement of Cash Flows Cash Flows from Operating Activities Net income $ 35496 Adjustments Depreciation Increase in accounts receivable 28000 (4400) 11400 Decrease in inventory Increase in account payable Decrease in accrued liabilities 7000 (7000) 70496 Net cash provided by operating activities 64,000 Abrahams Manufacturing Company Balance Sheet for 1/31/2017 and 1/31/2018 2017 2018 Cash $ 89,000 $ 113,000 Accounts receivable 68,400 Inventory 112,000 100,600 Prepaid expenses 10,000 10,000 Total current assets $ 275,000 $ 292,000 Gross plant and equipment 238,000 307,000 Accumulated depreciation (40,000) (68,000) Total assets $ 473,000 $ 531,000 Accounts payable $ 85,000 $ 92,000 Accrued liabilities 68,000 61,000 Total current debt $ 153,000 $ 153,000 Mortgage payable 70,000 0 Preferred stock 0 125,000 Common stock 205,000 205,000 Retained earnings 45,000 48,000 Total debt and equity $ 473,000 $ 531,000 Abrahams Manufacturing Company Income Statement for the Year Ended 1/31/2018 2018 Sales $ 189,000 Cost of goods sold 59,000 Gross profit 130,000 Selling, general and administrative expenses 47,000 Depreciation expense 28,000 Operating income 55,000 Interest expense 2,800 Earnings before taxes 52,200 Taxes 16,704 Preferred stock dividends 14,000 $ 21,496 Earnings available to common stockholders