Refer to the following financial statements for Crosby Corporation: CROSBY CORPORATION Income Statement For the Year Ended December 31, 20X2 Sales $ 3,570,000 Cost of goods sold 2,200,000 Gross profit $ 1,370,000 Selling and administrative expense 687,000 Depreciation expense 309,000 Operating income $ 374,000 Interest expense 80,200 Earnings before taxes $ 293,800 Taxes 170,000 Earnings after taxes $ 123,800 Preferred stock dividends 10,000 Earnings available to common stockholders $ 113,800 Shares outstanding 150,000 Earnings per share $ 0.76 Statement of Retained Earnings For the Year Ended December 31, 20X2 Retained earnings, balance, January 1, 20X2 $ 316,000 Add: Earnings available to common stockholders, 20X2 113,800 Deduct: Cash dividends declared and paid in 20X2 199,000 Retained earnings, balance, December 31, 20X2 $ 230,800 Comparative Balance Sheets For 20X1 and 20X2 Year-End 20X1 Year-End 20X2 Assets Current assets: Cash $ 127,000 $ 102,200 Accounts receivable (net) 525,000 591,000 Inventory 601,000 654,000 Prepaid expenses 61,200 31,200 Total current assets $ 1,314,200 $ 1,378,400 Investments (long-term securities) 92,900 88,600 Gross plant and equipment $ 2,120,000 $ 2,550,000 Less: Accumulated depreciation 1,520,000 1,829,000 Net plant and equipment 600,000 721,000 Total assets $ 2,007,100 $ 2,188,000 Liabilities and Stockholders Equity Current liabilities: Accounts payable $ 300,000 $ 576,000 Notes payable 534,000 534,000 Accrued expenses 75,100 55,200 Total current liabilities $ 909,100 $ 1,165,200 Long-term liabilities: Bonds payable, 20X2 192,000 202,000 Total liabilities $ 1,101,100 $ 1,367,200 Stockholders equity: Preferred stock, $100 par value $ 90,000 $ 90,000 Common stock, $1 par value 150,000 150,000 Capital paid in excess of par 350,000 350,000 Retained earnings 316,000 230,800 Total stockholders equity $ 906,000 $ 820,800 Total liabilities and stockholders equity $ 2,007,100 $ 2,188,000 a. Prepare a statement of cash flows for the Crosby Corporation: (Amounts to be deducted should be indicated with parentheses or a minus sign.)