Wentworth Company Balance Sheets Assets as of December 31 Cash 2013 2012 Accounts receivable $ 21.500 $120,000 Inventory 195.000 105.000 180,000 Long-term investments 225,000 Totals 0 60.000 $396,500 $510,000 Liabilities and shareholders' equity Accounts payable $ 75,000 $120,000 Operating expenses payable 24.000 15,000 Bonds payable 70,000 100,000 Common stock 125.000 125,000 Retained earnings 102,500 150,000 Totals $396.500 $510,000 Wentworth Company Income Statement For the Year Ended December 31. 2013 Sales $560,000 Cost of goods sold: Beginning inventory $225,000 Purchases 330,000 Goods available for sale 555,000 Less: ending inventory 180,000 Cost of goods sold 375,000 Gross profit 185,000 Operating expenses 180,000 Income from operations 5,000 Other expenses: Loss on sale of long-term investment (7,500 Net loss $ (2,500 Cash dividends of $45,000 were paid in 2013. Required: Prepare a statement of cash flows using the direct method