Using the income statement and balance sheets of Tullamarine Corporation below prepare a statement of cash flows for the year ended 2016 using the indirect method. Balance Sheets Cash Accounts receivable, net Inventory Total current assets 2015 50 500 750 1,300 2016 60 520 770 1,350 Fixed assets, net Total assets 500 1,800 550 1,900 Notes payable to banks Accounts payable Interest payable Total current liabilities 100 590 10 700 75 615 20 710 Long-term debt Deferred income tax Capital stock Retained earnings Total liabilities and equity 300 300 400 100 1,800 350 310 400 130 1,900 Income Statement Sales COGS Depreciation SG&A Interest expense Income tax expense Net income 2016 1,000 650 100 100 50 40 60 (25 marks)