Williamsburg Company uses the direct method to prepare its statement of cash flows. Refer to the following financial statement information for the year ending December 31, 2018: Williamsburg Company Comparative Balance Sheet December 31, 2018 and 2017 Increase 2018 2017 (Decrease kash AED 33,000 AED 13,000 AED 20,000 Accounts Receivable 29,000 36,000 (7,000) Merchandise Inventory 56,000 29,000 27,000 Plant and Equipment, net 126.000 92.000 34.000 Total Assets AED 244.000 AED 170,000 AED 74.000 Accents Payable Accruel Ulabilities Long-tern Notes Payable Total Liabilitas AED 9,000 AED 13,000 AED (4,000) 7,000 3,000 4,000 70.000 79,000 (9.000) AED 86.000 AED 95.000 AED (9.000) Common Stock Retained Earnings Treasury Stock Total Stockholders' Equity AED 55,000 AED 3,000 AED 52,000 115,000 78,000 37,000 (12.000 (6.000) (6.000) AED 158,000 AED 75,000 AED 83.000 Total Liabilities and Stockholders' Equity AED 244,000 AED 120.000 AED 74.000 Williamsburg Company Income Statement Year Ended December 31, 2018 Sales Revenue AED 291,300 Interest Revenue 1,000 Gain on Sale of Plant Assets 6.000 Total Revenues and Gains AED 298,300 Cort Good Sold 14. Williamsburg Company Income Statement Year Ended December 31, 2018 Sales Revenue AED 291,300 Interest Revenue 1.000 Gain on Sale of Plant Assets 6.000 Total Revenues and Gains AED 298,300 Cost of Goods Sold 145,000 Salaries and Wages Expense 49,000 Depreciation Expense-Plant Assets 16,000 Other Operating Expenses 25,000 Interest Expense 3,500 Income Tax Expense Z 800 Total Expenses 246.300 Ne Income AED 52.000 Addition information provided by the company includes the following: Equipment posting AED 60,000 was purchased for cash. Equipment with a net asset value of AED 10,000 was sold for AED 16,000. During 2018, the company repaid AED 43,000 of long-term notes payable. During 2018, the company borrowed AED 34,000 on a new note payable. There were no stock retirements during the year. There were no sales of Treasury Stock during the year. Prepare a complete statement of cash flows using the direct method. Accrued Liabilities relate to other operating expenses. pCash Flows from Operating Activities:
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