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Question 3. (34') The income statement and additional data of Dallas Products, Inc follow: Dallas Products, Inc. Income statement Year Ended December 31, 2014 Revenues:

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Question 3. (34') The income statement and additional data of Dallas Products, Inc follow: Dallas Products, Inc. Income statement Year Ended December 31, 2014 Revenues: $299,600 Service revenue $6,700 Dividend revenue S306,300 Total Revenues: Expenses S10,800 Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense $44,000 $21,000 $101,500 $2,100 Income tax expense $19,500 Total Expenses ($198,900) Loss from sale of land ($3,000) Net Income $104,400 Additional data n of plant assets was $150,000. Of this amount, $95,000 was paid in cash and $55,000 by signing a note payable. b. Book value of land is $20,000. c. Cash received from issuance of common stock totaled $50,000. d. Payment of a long-term note payable was $18,000. e. Payment of cash dividends was $12,000 f. From the balance sheets: 31-Dec Changes from 2013 to 2014 2014 2013 Current Assets Cash $86,200 $33,500 $52,700 Account receivable $44,000 $60,000 $84,000 $62,000 -$16,000 Inventory $22,000 Prepaid expense $9,500 $8,300 $1,200 Current Liabilities Accounts payable $38,000 $36,500 Accrued liabilities $1,500 -$12,000 $1,000 $13,000 Requirement: Prepare Dallas's statement of cash flows for the year ended December 9 2014, using the indirect method. The format of the statement is provided. Please 34 blanks on the line. (34 points) fill in the Cash flows from operating activities: (4) $ Adjustments: (6)S (8)s ioS- (12)S (14)S (13) (16)S (15) (17) (19) S Net cash provided by operating activities Cash flows from investing activities: (21)S (20) (23)S (22) (24) S Net cash used for investing activities Cash flows from financing activities: (26)S (25) (28)S (27) (30)S (29) Net cash provided by financing activities (31) S in ca s h. (32) S Cash balance, December 31, 2013.. (33) S Cash balance, December 31,2014. (34) S

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