Using the financial data below, show a statement of cash flows for the year ended December 31, 2014 for Summer Peebles, Inc. using the indirect method.

MUST SHOW ALL CALCULATIONS on how to make the cash flow and statement using this method

Summer Peebles, Inc.

Income Statement Year Ending December 31, 2014

Sales

$1,000.00

Cost of Goods Sold

-$650.00

Depreciation Expense

-$100.00

Sales and General Expense

-$100.00

Interest Expense

-$50.00

Income Tax Expense

-$40.00

Net Income

$60.00

Summer Peebles, Inc.

Balance Sheets as of December 31, 2013 and 2014

Assets 2013 2014

CASH

$50.00 $60.00

Accounts Receivable, Net

$500.0 $520.00

Inventory

$750.00 $770.00

Current Assets

$1,300.0 $1,350.00

Fixed Assets, Net

$500.00 $550.00

Total Assets

$1,800.00 $1,900.00

Liabilities and Equity

Notes Payable to Banks

$100.00 $75.00

Accounts Payable

$590.0 $615.00

Interest Payable

$10.0 $20.00

Current Liabilities

$700.0 $710.00

Long-Term Debt

$300.0 $350.00

Deferred Income Tax

$300.0 $310.00

Capital Stock

$400.0 $400.00