Sunland Company has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements of Sunland Company for 2019 and 2018 are provided below. 12/31/18 $ 191000 218000 BALANCE SHEETS 12/31/19 Cash $408000 Accounts receivable 359000 Inventory 385000 Property, plant and equipment $607000 Less accumulated depreciation (321000) 286000 $1438000 481000 $961000 (302000) 659000 $1549000 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $ 174000 351000 358000 216000 339000 $1438000 $94000 390000 599000 216000 250000 $1549000 $8390000 7153000 1237000 INCOME STATEMENT For the Year Ended December 31, 2019 Sales revenue Cost of sales Gross profit Selling expenses $598000 Administrative expenses 194000 Income from operations Interest expense Income before taxes 792000 445000 70000 Income taxes 97000 1 1237000 Cost of sales Gross profit Seling expenses Administrative expenses Income from operations Interest expense Income before taxes $598000 194000 792000 70000 Income taxes Net Income 3 278000 The following additional data were provided and had a be 6000 at the time of sale. The loss on sale was incorrectly charged to 1. Dividends for the year 2019 were $191000, 2. During the year, equipment was sold for $241000. This equipment cost cost of sales 3. All depredation expense is in the selling expense category The net cash provided (used) by financing activities is 241000) ${432000) oooo $191000 $45000