Use the information and template below to prepare a statement of cash flows: The corporation sold $27,000 of product to a loyal customer but has not yet received payment. Anticipating an increase in demand for their product, the firm increased inventory by $20,000. Net income $40,000 Beginning cash $25,000 The firm hired a contractor to remodel their office space. The bill for the work was $17,000 and is due but not yet paid. The firm purchased a new printer for $3,000 on credit from their local Xerox representative. The printer is heavily used and the firm anticipates needing to replace it by the end of the year. Employees have submitted time sheets for work performed but have not yet been paid. In total these accrued wages add up to $8,000. The corporation took out a five year loan in the amount of $35,000 to finance their upcoming expansion. The company paid out $3,000 in dividends. There was no change in common stock The company spent $35,000 on new machinery Depreciation expense during the relevant time period was $12,000