The income statement and additional data of Consolidated Services, Inc., follow:

Additional data follow:
a. Collections from customers are $5,000 more than sales.
b. Payments to suppliers are $3,000 more than the sum of cost of goods sold plus advertising expense.
c. Payments to employees are $15,000 more than salaries expense.
d. Dividend revenue, interest expense, and income tax expense equal their cash amounts.
e. Acquisition of fixed assets for cash is $103,000.
f. Proceeds from sale of land total $22,000.
g. Proceeds from issuance of common stock for cash total $50,000.
h. Payment of long-term note payable is $9,000.
i. Payment of dividends is $11,000.
j. Cash balance, November 30, 2015, was $23,000.

Requirement
Prepare Consolidated Services’ statement of cash flows for the year ended November 30, 2016. Use the direct method?

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Consolidated Services, Inc. Income Statement Year Ended November 30, 2016 Revenues: Sales Revenue $304,000 11,000 Dividend Revenue $315,000 Total Revenues Expenses: Cost of Goods Sold $103,000 Salaries Expense Depreciation Expense Advertising Expense Interest Expense Income Tax Expense Total Expenses 55,000 28,000 16,000 6,000 9,000 217,000 $ 98,000 Net Income