Q.4 - Below are the Balance Sheets as of December 31, 2018 and December 31, 2019 and the Income Statement for the year 2019 of Hasa Company. Dec 31, 2018 Dec 31, 2019 Castle Company Income Statement for the year of 2019 Assets: Cash and Cash Equivalents Accounts Receivable Inventories Prepaid Expenses 96,700 63,000 48,400 5,400 224,350 (129,300) 95,050 (69,300) Equipment Acc. Depreciation 198,000 (77,500) 48,500 Sales 96,250 Cost of Goods Sold 55,250 Gross Margin 12,800 Operating Expenses 195,000 General Administrative Expenses (67,300) Marketing and Sales Expenses Depreciation Expense 340.500 Operating Income Loss on Sale of Equipment 115,000 Interest Expenses 108,100 Income Before Tax 5,250 Tax 4,440 Net Income (27,800) (20,500) (21,000) Total Assets 334.000 Liabilities and Owners' Equity Bank Loan Accounts Payable Accrued Expenses Tax Payable 67,000 126,000 6,300 14,550 25,750 (2,800) (8,150) 14,800 | (4,440) 10,360 Capital Retained Earnings 90,000 30,150 70,000 37,710 Total Liabilities and OE 334.000 340.500 Additional Information: 1) Sold an equipment for $18,000. The cost of equipment was $52,000 and accumulated depreciation was $31,200. 2) Paid $2,800 dividend to shareholders. Required: Prepare the Castle Company Cash Flow Statements for the year 2019 by using Direct Method and show your calculations