Tidwell Company Comparative Balance Sheets At December 31, 20X1 and 20X2 20X1 20X2 Current assets: Accounts receivable $347,000.00 $284,000.00 Inventories 121,000.00 148,000.00 Current liabilities: Accounts payable 299,000.00 240,000.00 Tidwell Company Income Statement For the Year Ended December 31, 20X2 Revenues $1,210,000.00 Gain on sale of equipment 50,000.00 Cost of goods sold (647,000.00) 4 Depreciation expense (126,000.00) (24,500.00) Interest expense Net income $462,500.00 Tidwell Company Cash Flows from Operating Activities, Direct Method For the Year Ended December 31, 20X2 Income Adjustments Cash Flows Statement Revenues 3 Gain on sale of equipment Cost of goods sold Depreciation expense Interest expense Net income Net cash from operating activities