Refer to the following financial statements for Crosby Corporation: CROSBY CORPORATION Income Statement For the Year Ended December 31, 20x2 Sales $ 2,200,000 Cost of goods sold Gross profit $ Selling and administrative expense Depreciation expense Operating income $ Interest expense Earnings before taxes 1,300,000 900,000 420,000 150,000 330,000 90,000 240,000 ces Taxes 80,000 Earnings after taxes $ 160,000 Preferred stock dividends 10,000 Earnings available to common stockholders $ 150,000 Shares outstanding 120,000 Earnings per share 1.25 Comparative Balance Sheets For 20x1 and 20x21 Year-End 20x1 Year-End 20x2 Assets Current assets: Cash Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments (long-term securities) Gross plant and equipment Less: Accumulated depreciation i Net plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Notes payable Accrued expenses Total current liabilities Long-term liabilities: Bonds payable, 28x2 Total liabilities Stockholders' equity: Preferred stock, $100 par value Common stock, $1 par value Capital paid in excess of par Retained earnings $ 2,000,000 1,000,000 $ 70,000 300,000 410,000 50,000 $830,000 80,000 1,000,000 $1,910,000 $ 250,000 400,000 70,000 $ 720,000 70,000 $ 790,000 $ 90,000 120,000 410,000 500,000 $ 100,000 350,000 430,000 30,000 $910,000 70,000 $ 2,400,000 1,150,000 1,250,000 $2,230,000 $440,000 400,000 50,000 $890,000 120,000 $1,010,000 $ 90,000 120,000 410,000 600,000 a. Prepare a statement of cash flows for the Crosby Corporation: (Amounts to be deducted should be indicated with parentheses or a minus sign.) CROSBY CORPORATION Statement of Cash Flows For the Year Ended December 31, 20X2 Cash flows from operating activities Adjustments to determine cashflow from operating activities Total adjustments Net cash flows from operating activities Cash flows from investing activities Not cash flows from investing activities Cash flows from financing activities