Question #1 Using the income statement and balance sheets of AlHada Water Company, prepare statement of cash flows for the year ended December 31, Year 9, using the indirect method. AlHada Water Company Income Statement For Year Ended December 31, Year 9 Sales Cost of goods sold Depreciation expense General Expenses Interest expense Income Tax expense Net Income AlHada Water Company Balance Sheets December 31, Year 9 and Year 8 1000 (650) (100) (100) (50) (40) 60 Year 8 Year 9 Assets Cash 50 60 Accounts receivable, net 500 520 Inventory 750 770 Current assets 1,300 1,350 Fixed assets, net 500 550 Total assets $1,800 $1,900 Liabilities and Equity Accounts payable 590 615 Deferred income tax 300 310 Interest payable 10 20 Current liabilities 700 710 Long-term debt 300 350 Long term notes payable to banks $100 $75 Capital stock 400 400 Retained earnings 100 130 Total liabilities and equity $1,800 $1,900