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Question 17 (20 points) Saved The following information is related to Somerset Company's fiscal year 2018. Income Statement: Net Income Depreciation Expense Gain on Sale

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Question 17 (20 points) Saved The following information is related to Somerset Company's fiscal year 2018. Income Statement: Net Income Depreciation Expense Gain on Sale of Plant Assets50,000 Interest Expense $4,000,000 650,000 5,000 ($45,000) Balance Sheet 12/31/17: Increase (Decrease) Accounts Receivable Plant Assets Purchased250,000 Plant Assets- Disposals(100.000) Additional Information: Common Stock exchanged for outstanding Long Term Notes Payable of $150,000 Dividends paid were $35,000 Use this information to prepare a partial Statement of Cash Flows for Somerset Company. Prepare only the section related to Cash Flows from Operating Activities. Paragrap omerset Company Statement of Cash Flows (Partial)

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