Statement of Cash Flows - four (4) questions Instructions: Please use the indirect method to prepare a statement of Cash Flows on your scratch paper based on the following Income Statement, Balance Sheet, and Additional Information shown below to answer this question and the next three (3) questions: Question: Based on the Statement of Cash Flows you prepared on your scratch paper, what is the amount of the Operating cash flows? Income Statement UCF Bicycle Vending Machine Company For Period Ending December 31, 20xx 1,000,000 750,000 250,000 Revenue Cost of goods sold Gross Profit Expenses: Depreciation Expense Sales, General & Administrative Expenses Total Expenses Operating Income Gain on sale of Equipment Net income 25,000 80,000 105,000 145,000 25,000 170,000 Balance Sheet UCF Bicycle Vending Machine Company December 31, 20xx Current Year Prior Year Change Assets Current Assets Cash Accounts Receivable Inventory Long-term Assets Equipment Total Assets 175,000 140,000 330,000 50,000 150,000 300,000 125,000 (10,000) 30,000 (50,000) 450,000 1,095,000 500,000 1,000,000 155,000 225,000 25,000 300,000 (145,000) 200,000 25,000 50,000 (25,000) Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Deferred Revenue Warranty Payable Long-term Liabilities Long-term Debt** Stockholders' Equity Common Stock*** Retained Earning**** Total Liabilities and Stockholders' Equity 300,000 250,000 50,000 150,000 240,000 1.095.000 100,000 100,000 1.000.000 50,000 140,000 * $50,000 of equipment was sold for cash during the year. ** New $50,000 notes payable was signed in exchange for cash during the year. ***New stock was issued during the year for cash in the amount of $50,000. ****Dividends paid during the year equaled $30,000. Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. For example, if you calculated the answer to be $24,123 you would only input: 24123