Refer to the following financial statements for Fabulous Corporation: FABULOUS CORPORATION Income Statement For the Year Ended December 31, 2019 Sales $ Cost of goods sold Gross profit $ Selling and administrative expense Depreciation expense Operating income $ Interest expense Earnings before taxes $ Taxes Earnings after taxes $ Preferred stock dividends Earnings available to common stockholders $ Shares outstanding Earnings per share $ 3,990, 2,488,880 1. Sie, we 744,00 261.00 585, 820 87,300 417,78e 223, eee 194,78 10. eee 184,7ee 150.cee 1.23 Statement of Retained Earnings For the Year Ended December 31, 2019 Retained earnings, balance, January 1, 2019 Add: Earnings available to common stockholders, 2019 Deduct: Cash dividends declared and paid in 2019 Retained earnings, balance, December 31, 2019 $ 889,100 184,700 148,eee $ 925,800 Year-End 2019 5 57, 2ee 562,00 35, see $1,358,70 87,9ee $ 3,250,cee 1,771.ee 1,479, eee $2,925,600 Comparative Balance Sheets For 2018 and 2019 Year-End 2018 Assets Current assets: Cash $ 188,888 Accounts receivable (net) 535,000 Inventory 684,800 Prepaid expenses 67. Bee Total current assets $1,466,000 Investments (long-tere securities) 96, 9ee Gross plant and equipment $ 2,64e.ee Less: Accumulated depreciation 1.51e, see Net plant and equipment 1.130.000 Total assets $2,692, see Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 348,eee Notes payable 592, cee Accrued expenses 79,800 Total current liabilities $1,219,888 Long-term liabilities: Bonds payable, 2ex2 294,00 Total liabilities $1,213, see Stockholders' equity: Preferred stock, $180 par value $ 90, eee Common stock, $i par value 15e,eee Capital paid in excess of par 358, Bee Retained earnings 889.100 Total stockholders' equity $1,479, 100 Total liabilities and stockholders' equity $2.692.900 $ 557,00 592, see 51, see $1,200,800 209,be $1,409, see $ 9, 00 15e,eee 350,000 925, see $1,515, see $2.225.5 a. Prepare a statement of cash flows for the Fabulous Corporation: (Amounts to be deducted should be indicated with parentheses or a minus sign.) FABULOUS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2019 Cash flows from operating activities: Adjustments to determine cashflow from operating activities: 0 Total adjustments Net cash flows from operating activities Cash flows from investing activities: on 69 0 S 0 Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities $