The operations of the Dogwood Hotel, a small hotel operation, are becoming more complex. Alexander Hamilton, the owner, has asked for your help in preparing his statement of cash flows. He is able to present you with balance sheets and some additional information. Dogwood Hotel Balance Sheets December 31, 2018 and December 31, 2019 Assets 2018 2019 Change Cash 10,000 15,000 5.000 Accounts Receivable 25.000 25.000 -0- 8.000 10,000 2,000 15.000 15.000 -0- 60.000 50.000 (10,000) 1.050.000 1.105,000 55,000 Inventory Marketable Securities Investments Building & Land Equipment Accumulated Depreciation Total Assets Liabilities & Stockholder's Equity Accounts Payable 100.000 120.000 20.000 (470,000) (525.000) (55.000) 798.000 815,000 17.000 12.000 8.000 (4.000) (9.000) (3.000) 5,000 -0 28,000 17.000 Mortgage Payable (current) 14,000 5.000 Dividends Payable 10,000 7.000 Mortgage Payable (Long Term) 200.000 205,000 Common Stock 100.000 100,000 Retained Earnings 462.000 490.000 Total Liabilities & Stockholders Equity 798.000 815.000 Additional information: 1. Equipment costing $10.000, with a book value of $4,000 was sold for $6.000. 2. An investment costing $10,000 was sold for 55,000 3. Dividends declared during 2019 totaled $36,500. Assume only dividends declared and net income affected the retained earnings account 5 Assume all current liabilities are paid on a timely basis Prepare a cash flow statement in proper format for the Dogwood. 4