Use the financial statement above for the Kramer Corporation to construct a statement of cash flow for 2013.

Kramer Corporation

Income Statement

For the Year ended December 31, 2013

1. Sales 2,000,000

2. Cost of Goods Sold 1,500,000

3. Gross profits 500,000

4. Selling and adminstratie expense 270,000

5. Depreciation expense 50,000

6. Operating profit (EBIT) 180,000

7.Interest expense 20,000

8. Taxes 49,500

10. Earnings after taxes (EAT)

*Dividends paid during 2013 were 60,500