Selected financial statement information and additional data for Skippy Company is presented below. Prepare a statement of cash flows for the year ending December 31, 2014

Skippy Company

Balance Sheet and Income Statement Data

December 31, December 31,

2016 2015___

Cash $143,000 $119,000

Accounts Receivable 228,000 306,000

Inventory 391,000 340,000

Property, Plant, and Equipment 1,261,000 1,122,000

Less: Accumulated Depreciation (476,000) (442,000)

Total Assets $1,547,000 $1,445,000

Accounts Payable $187,000 $102,000

Notes Payable 51,000 68,000

Income Taxes Payable 85,000 76,500

Bonds Payable 350,000 391,000

Stockholders' Equity:

Common Stock 510,000 467,500

Retained Earnings 364,000 340,000

Total Liabilities & Stockholders' Equity $1,547,000 $1,445,000

Sales Revenue 1,615,000 $1,513,000

Less Cost of Goods Sold 781,000 731,000

Gross Profit 834,000 782,000

Expenses and Losses:

Depreciation Expense 153,000 136,000

Salaries and Wages Expense 391,000 357,000

Interest Expense 34,000 34,000

Loss on Sale of Equipment 12,000 0

Income Tax Expense 98,000 102,000

Additional Information:

During the year, Skippy sold equipment with an original cost of $133,000 and accumulated depreciation of $119,000 and purchased new equipment for $272,000.