The financial statements for Nobleman Fine Clothes follow. Assume that the equipment was purchased with cash.

Required
Prepare a statement of cash flows for 2013 using the indirect method of presenting cash flows from operatingactivities.

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Nobloman Fine Clothes Income Statement For Year Ended December 31,201:3 Revenue from Sales: Net Sales Cost of Goods Sold: 769,140 Merchandise Inventory, January 1. 2013 Delivered Cost of Purchases Cost of Goods Available for Sale Less Merchandise Inventory, Deoember 31, 2013 Cost of Goods Sold $146,313 552,708 $699,021 110,385 588,636 $180,504 Gross Profit Operating Expenses: Salary Expense Rent Expense Depreciation Expense, Equipment Supplies Expense Insurance Expense Miscellanecus Expense $124,155 24,300 28,026 2,889 1,350 648 Total Operating Expenses 181,368 (864) Net Loes Nobleman Fine Clothes Statement of Owner's Equity For Year Ended December 31, 2013 B. T. Nobleman, Capital, January 1, 2013 Investments during the Year Subtotal Less: Net Loss $262.926 864 13,500 Withdrawals Decrease in Capital B.T. Nobleman, Capital December 31,2013 (14,364) $248,562 Nobleman Fine Ciothes Comparative Balance Sheet December 31, 2013 and December 31,2012 Increase or (Decrease) 2013 2012 Assets Cash Accounts Recevable (net 30,034 20,372 43,011 8,032 0,385 146,313 1,341 164,034 4,078) (56,052) $327051 $ 9,602 13,545 (3,673) (35.928) 1458 5,000 56.556 4.359 Marchandise Inventory Prepaid Insurance Equpment 2.799 169,034 Less Accumulated Depreciation Total Assets 089 Liabilities Accounts Payable Salaries Payable Total Liabilites s 37872 ,1$(23.220) $ 40,527 64.125 $23,598 (14.364) 2,655 3,024 Owner's Equity B.T. Nobleman, Capital Total Liabilities and Owners Equity 248,562 289,089 262,926 $327051 (37962)