The Statement of financial account balances as at December 31, 2019 and 2018 and Income Statement of Ravioli Inc. are presented below: Statement of Financial Position Account Balances December 31 2019 2018 Cash $58,XXX $18,000 Accounts receivable, net 40,000 32,XXX 42,500 38,200 67,000 88,000 (31,000) (35,000) Inventory Building and equipment Accumulated depreciation Accounts payable Salaries payable L-T Debt Payable $21,000 $18,500 3,800 7.XXX 25,000 0 Common shares 7.XXX 5,000 Retained earnings 119,700 110,700 Replace XXX with the last three digits of your student number Income Statement For the Year Ended December 31, 2019 Sales $125,000 48,000 77,000 Cost of goods sold Gross profit Gain on Sale of equipment Depreciation expenses 7,000 8,000 Salaries expenses 41,000 16,000 Other Operating Expenses Operating income 19,000 Income taxes 6,000 Profit $13,000 Additional information: 1.) Equipment was purchased during the year for $10,000 cash. 2.) Another piece of equipment was sold during the year. It had accumulated depreciation of $ 12,000. The gain on sale of this equipment is recorded in Income statement. D Prepare the cash from (for) operating activities section of the statement of cash flows for 2019 using the direct method. The Statement of financial account balances as at December 31, 2019 and 2018 and Income Statement of Ravioli Inc. are presented below: Statement of Financial Position Account Balances December 31 2019 2018 Cash $58,XXX $18,000 Accounts receivable, net 40,000 32,XXX 42,500 38,200 67,000 88,000 (31,000) (35,000) Inventory Building and equipment Accumulated depreciation Accounts payable Salaries payable L-T Debt Payable $21,000 $18,500 3,800 7.XXX 25,000 0 Common shares 7.XXX 5,000 Retained earnings 119,700 110,700 Replace XXX with the last three digits of your student number Income Statement For the Year Ended December 31, 2019 Sales $125,000 48,000 77,000 Cost of goods sold Gross profit Gain on Sale of equipment Depreciation expenses 7,000 8,000 Salaries expenses 41,000 16,000 Other Operating Expenses Operating income 19,000 Income taxes 6,000 Profit $13,000 Additional information: 1.) Equipment was purchased during the year for $10,000 cash. 2.) Another piece of equipment was sold during the year. It had accumulated depreciation of $ 12,000. The gain on sale of this equipment is recorded in Income statement. D Prepare the cash from (for) operating activities section of the statement of cash flows for 2019 using the direct method