(Working with a statement of cash flows) Given the balance sheet, and income statement, prepare a statement of cash flows for Abrahams Manufacturing Company for the year ended January 31 2018 Additional Information 1 The only entry in the accumulated depreciation account is for 2018 depreciation 2 The firm paid $23,450 in common stock dividends during 2018 Statement of Cash Flows Cash Flows from Operating Activities Net income Adjustments Depreciation Increase in accounts receivable Decrease eventory, Increase in account payable Decrease in accrued b S 40,400 27,000 (4,200) 14,200 5,000 10,000) D Net cash provided by operating activities 77,440 Compete the inverting activities part of the statement of cash flows plound to the nearest dolar NOTE of cash intows as positive values and cash ouows as negative values) Statement of Cash Flows (Cont'd) Cash Flows from investing Activities: Xcrease in gross stard and egement Net cash used in investing activities 1 View an example Get more heln. ha Data table form entry paid Part 2 of 3 Abrahams Manufacturing Company Balance Sheet for 1/31/2017 and 1/31/2018 Cash ment Accounts receivable Flows Inventory come Prepaid expenses tments Total current assets eprecia crease ecreas ncrease Gross plant and equipment Accumulated depreciation Total assets Decreas Accounts payable Accrued liabilities cash p e the inv tement Total current debt Mortgage payable Preferred stock sh Flows Common stock Increase et cash us Get 2017 $ 89,000 64,000 2018 $ 113,000 68,200 112,000 97,800 10,000 10,000 $ 275,000 $ 289,000 238,000 (40,000) 309,000 (67,000) Poi -X ws $ 473,000 $ 531,000 $ 85,000 68,000 $ 91,000 62,000 $ 153,000 $ 153,000 70,000 0 ve values 0 205,000 Print Done 125,000 205,000 of Ca s from Data table e - X nts ciation ase in ad Abrahams Manufacturing Company Income Statement for the Year Ended 1/31/2018 2018 ease in i Sales $ 189,000 ase in ad Cost of goods sold 57,000 rease in a Gross profit $ 132,000 h provid e investin Selling, general and administrative expenses 43,000 Depreciation expense 27,000 and cash outf ment of Ca Operating income $ 62,000 Flows from Interest expense 2,500 crease in g Earnings before taxes $ 59,500 Taxes ash used it 19,040 Preferred stock dividends 14,000 $ Earnings available to common stockholders 26,460) Get mo Print Done