Question 7 of 15 -14 Use the following income statement and balance sheet information to put together a statement of cash flows. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) 2020 Sales $1,244,000 Cost of goods sold $688,000 Gross profit $556,000 Gen'l & admin expense $156,000 Selling & mkt expense $135,000 Depreciation $25,000 Operating income $240,000 Interest $141,000 Income before taxes $99,000 Income taxes (27%) $26,730 Net income $72,270 Dividends paid $25,000 Assets 2020 2019 Cash $24,000 $9,130 Accounts receivable $125,000 $115,000 Inventory $201,000 $218,000 Total current assets $350,000 $342,130 Gross plant and equipment $700,000 $475,000 Less: accum. depreciation $313,000 $288,000 Net plant and equipment $387,000 $187,000 Total assets $737,000 $529,130 Liabilities Accounts payable $117,000 $102,000 Notes payable $27,000 $27,000 Total current liabilities $144,000 $129,000 Long-term debt $248,000 $153,000 Total liabilities $392,000 $282,000 Common stock ($0.01 par) $4,500 $4,000 Paid-in capital $222,500 $172,400 Retained earnings $118,000 $70,730 Total stockholders' equity $345,000 $247,130 Total liabilities and equity $737,000 $529,130 Statement of Cash Flows 2020 $ V > > > >