Statement of Cash Flows 2 Required: Use the financial statements and other information provided below to prepare a statement of cash flows for Fox 3 Corporation for fiscal year 2026. Use the DIRECT method. 4 5 Fox Corporation Fox Corporation 6 Comparative Balance Sheets Income Statement 7 December 31, 2026 and 2025 For the year ended December 31, 2026 8 9 December 31 Sales 623,600 10 2026 2025 Cost of Goods Sold 296,000 11 Assets Gross Margin 327,600 12 Cash 93,000 85,000 Depreciation Expense 87,000 13 Accounts Receivable 95,000 37,000 Other Operating Expenses 158,000 14 Merchandise Inventory 149,000 145,000 Income om Operations 82,600 15 Equipment 298,000 355,000 Other Revenue and Expenses: 16 Accum. Depr. (7,000) (108,000) Loss on sale of Equipment (69,000) 17 Totals 628,000 514,000 Income before Income Taxes 13,600 18 Income Taxes Expense 4,100 19 Liabilities & Stockholders' Equity Net Income 9,500 20 Accounts Payable 56,000 142,000 21 Wages Payable 39,500 37,000 Additional Information: 22 Short-Term Note Payable 96,000 91,000 A. Cash received from customers 565,600 23 Long-term Note Payable 156,000 B. Cash dividends paid 50,000 24 Common Stock 262,000 185,000 C. Cash paid for income taxes 1,600 25 Retained Earnings 18,500 59,000 D. Acquired equipment by signing long-term note payal 156,000 26 Totals 628,000 514,000 E. Cash received from borrowing on short-term note pa 5,000 27 F. Cash paid for other operating expenses 158,000 28 G. Cash received from sale of equipment 38,000 29 H. Cash paid for merchandise inventory 386,000 30 1. Cash received from sale of Fox Corp's common stock 77,000 31 1. Cash paid for equipment 82,000 32 33 0 35 Use the template below to prepare the statement of cash flows for Fox Corporation for 2026. (Use the template on the "Reconcilation worksheet" tab to calculate/document the items for the Reconcilation.) Hint: Cells with blue shading are for section heading labels and cells with yellow shading are for section total labels or other line labels. 3 e LO 12 13 14 15 16 17 18 19 20 22 23 24 25 26 27 28 29 30 31 32 Score Summary Information Stmt of Cash Flows Reconcilation I Type here to search Reconciliation Worksheet Note: Enter all amounts in this Worksheet as POSITIVE numbers. (Use the absolute value for all amounts in this Worksheet.) ADD Non-Cash Expenses 5 6 7 ADD Losses and DEDUCT Gains 8 9 10 11 Adjust for accruals -- Non-Cash, Current, Operating Assets & Liabilities Change Increase Ending Beginning in or 12 Account Balance Balance Balance Decrease Assets 113 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Liabilities