Question 7 Use the following income statement and balance sheet information to put together a statement of cash flows. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) 2017 Sales Cost of goods sold Gross profit Gen' admin expense Selling & mkt expense Depreciation Operating income Interest Income before taxes Income taxes (27%) Net income Dividends paid $1,240,000 $687,000 $553,000 $155,000 $134,000 $25,000 $239,000 $142,000 $97,000 $26,190 $70,810 $25,000 Assets 2017 2016 Cash Accounts receivable Inventory Total current assets Gross plant and equipment Less: accum. depreciation Net plant and equipment Total assets Liabilities $24,000 $ 124,000 $201,000 $349,000 $700,000 $313,000 $387,000 $12,290 $114,000 $217,000 $343,290 $475,000 $288,000 $187,000 $530,290 $736,000 Liabilities Accounts payable Notes payable Total current liabilities Long-term debt Total liabilities Common stock ($0.01 par) Paid-in capital Retained earnings Total stockholders' equity $119,000 $26,000 $145,000 $245,000 $390,000 $4,500 $105,000 $26,000 $131,000 $150,000 $281,000 $4,000 $174,100 $71,190 $249,290 $530,290 $224,500 $117,000 $346,000 $736,000 Total liabilities and equity Statement of Cash Flows 2017