Question 5 [30 points]

Segura Corporation's balance sheet and income statement are as follows:

Question 5 [30 points) Sales Segura Corporation's balance sheet and income statement are as follows: Segura Corporation Segura Corporation Comparative Balance Sheet Information Income Statement December 31 For the Year Ended December 31, 2015 Assets 2015 2014 $1,317,000 Cash $115,000 $80,000 Cost of goods sold 818.000 Accounts receivable.. 62.000 54,000 Gross profit 499,000 Merchandise inventory.. 403,000 351,000 Operating expenses: Equipment 220,000 196,000 Depreciation expense 30,000 Accumulated depreciation (96,000) (66,000) Other expenses 333,000 Total assets $704,000 $615,000 Total operating expenses 363,000 Liabilities and Equity Income from operations Accounts payable $36,000 $60,000 Income taxes 28,000 Income taxes payable 20,000 19,000 Net income $108,000 Share capital 508,000 490,000 Retained earnings 140,000 46,000 Total liabilities and equity... $704,000 $615,000 Additional information regarding Segura Corporation's activities during 2015: a. Equipment is purchased for $24,000 cash. b. 12,000 common shares are issued for cash at $1.50 per share. 136,000 Prepare a statement of cash flows for 2015. Use the indirect method to report cash inflows and outflows for the operating activities section. Callaho Inc. Statement of Cash Flows (select one) Official Timo 10.07.51 CULTAD DE OT AND LOOP