Supplemental Problem 6-1 The comparative balance sheets of Sheets Corporation at the beginning and end of the year appear below. Sheets Corporation Comparative Balance Sheets Assets December 31 January 1 Increase/Decrease Cash $20,000 $13,000 Accounts Receivable 106,000 88,000 $7,000 increase 18,000 increase Equipment 39,000 22,000 17,000 increase Less: Accumulated Depreciation (17,000) (11,000) 6,000 increase Total $148,000 $112,000 Liabilities and Stockholders' Equity Accounts Payable 20,000 15,000 5,000 increase Common Stock 100,000 80,000 20,000 increase Retained Earnings Total 28,000 $148,000 17,000 11,000 increase $112,000 Additional Information: Net income was $44,000 . Dividends of $33,000 were paid New equipment was purchased, and none was sold. Required: a. Prepare a statement of cash flows for the year.