statement of cash flows

15 Point Texas Corporation uses the indirect method to prepare the operating activities section of its statement of cash flows. The company's comparative balance sheet information was as follows: nts End of Year 2 End of Year 1 Cash $30,000 $28,000 Accounts receivable 48,000 50,000 Inventory 158,000 156,000 Prepaid insurance 10,000 8,000 Property, plant & equipment 70,000 60,000 Accumulated depreciation (14,000) (10,000) Total $302,000 $292,000 Accounts payable $14,000 $18,000 ses Bonds payable 90,000 120,000 Share Ordinary 140,000 120,000 Retained earnings 58,000 34,000 Total $302,000 $292,000 ng ons The company reported a net income for Year 2 of USD 40,000. No property, plant and equipment was disposed of during the year. No additional bonds were issued during the year. Texas paid USD 16,000 in cash dividends during Year 2. Denial Required: Prepare a statement of cash flows for Year 2 IN GOOD FORM