With data that are given above, create a formal Statment of Cash Flows (Indirect Method).

Thors Trading Company Balance Sheet As of December 31, 2018 12/31/2018 5 12,408,000 Current Assets 13/31/2019 Cash Accounts Recevable 5,500,000 3,506,000 3,880,000 Less Allo wance for Uncollected Accounts Inventory 5 10,300,000 8 400,000 1,000,000 1,500,000 00 19,B00,000 1,400,000 5 5 28,888,000 5 Total Current Assets Long Term Investments Segor Common Stock Land Held for Future Use Total Long Term Inves tment P roperty Plant and Equipment 510,000,000 1,000,000 2,500,000 6,000,000 S 1,800,000 2,500,000 58,000,000 8,000,000 30,000,000 2,300,000 S 0300,000 ng 557,974,000 ess: Accumulated Depreciation Equipment ess: Accumulated Depreciation Total P roperty Plant and Equipment 5 82,702,000 Intangibles Franchise, net Patents, net 6,600,000 S 2,800,000 S 9,400,000 5 120,990,000 S 6,200,000 2,200,000 B,400,000 119500,000 Total Intangables Total Assets Liabilities Current Lia bilities Accounts Payable 3,000,000 2,000,000 B,622,000 4,000,000 1,000,000 5 18,630,000 5 18,622,000 5,000,000 Dividends Payable Income Tax Payable Current Mortgage Payable Unearned Revenue Total Current Liabiitie Long Term Liabilities Mortage Payable Bonds Payable Premium on Bonds Payable Total Longmabilities Total Liabilities B,580,000 S 4,000,000 5 1,050,000 5 20,B00,000 28,000,000 1,146,000 49,946,000 68,568,000 00 S 1,146,000 5 64,946,000 5 5 83,576,000 5 Stock Holders Equity Contributed Capital Common Stock 5 24,000,000 1400,000 24,000,000 1,400,000 Total Contributed Capital Retained Earnings Total Contributed Capital and Retained Earnings 37 414,000 Total Labilities Total Stockholders Equity Total Liabilities and Stockholders Equity 5 25400,000 5 15,503,540 40,903,640 6B,568,000 50,93 2,000 5 120,990,000 119,500,000 5 12,014,000 Thors Trading Comapany Income Statement For the year ending December 31, 2018 Sales Returns and Allowance $184822,000 Less Purchases Discounts Cost of Good for Avaliable 6 Administrative Salary Expense Uncollectable Account Expense Depreciation Expense Building pment xpense Net Income Before Income Tax 8,580,000 S 5 5 Thors Trading Comapany Statement of Retained Earnings For the year ending December 31, 2018 Beginning Balance 3,994,000 12,014,000 Net hcome Dvidends $ 20,020,000 S 20,118,000 $ 12,000,000 S 16,100,000 Ending Balance 12,014,000 16,032,000