(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 December 31, 2015. Data table Additional Information 1. The only entry in the accumulated depreciation account is for 2015 depreciation. 2. The firm paid $25,780 in common stock dividends during 2015. Data table Abrahams Manufacturing Company Balance Sheet for 12/31/2014 and 12/31/2015 2014 2015 Cash $ $ Complete the operating activities part of the statement of cash flows: (Round to the nearest dollar. NOTE: In 110,000 68,200 Accounts receivable 89,000 64,000 112,000 10,000 Statement of Cash Flows Inventory 95,800 10,000 Cash Flows from Operating Activities Net income $ 284,000 Prepaid expenses Total current assets Gross plant and equipment Accumulated depreciation $ 275,000 238,000 (40,000) 310,000 (68,000) Abrahams Manufacturing Company Income Statement for the Year Ended 12/31/2015 2015 Sales $ 184,000 50,000 Cost of goods sold Gross profit $ 134,000 Selling, general and administrative expenses 44,000 Depreciation expense 28,000 Operating income $ 62.000 3.500 Interest expense Earnings before taxes $ 58,500 Taxes 18,720 11,000 Preferred stock dividends $ 28,780 Earnings available to common stockholders $ 473,000 Adjustments Depreciation Increase in accounts receivable Decrease in inventory Increase in account payable Decrease in accrued liabilities $ 526,000 Total assets s Accounts payable S $ 85,000 68,000 90,000 63,000 Accrued liabilities Total current debt Mortgage payable Preferred stock Net cash provided by operating activities Complete the investing activities part of the statement of cash flows: (Round to the nearest dollar. NOTE: Ing $ 153,000 70,000 0 $ 153,000 0 120,000 Common stock 205,000 45,000 205,000 48,000 Retained earnings $ 473,000 $ 526,000 Total debt and equity Statement of Cash Flows (Cont'd) Cash Flows from Investing Activities Increase in gross plant and equipment Net cash used in investing activities $ Complete the financing activities part of the statement of cash flows: (Round to the nearest dollar. NOTE: Ing Print Done Print Done Statement of Cash Flows (Cont'd) Cash Flows from Financing Activities Decrease in mortgage payable Increase in preferred stock $ Dividends Net cash provided by financing activities $