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PREPARE A STATEMENT OF CASHFLOWS WITH GIVEN INFORMATION USING THE INDIRECT METHOD Thomas Company Cash Flows Statement December 31, 2019 $ Assets Cash Accounts Receivable Inventory Property, Plant & Equipment Accumulated Depreciation Total Assets 2019 35,000 20,000 28,000 60,000 (32,000) 111,000 2018 20,000 14,000 20,000 78,000 (24,000) 108,000 $ $ $ $ Liabilities and Stockholder's Equity Accounts Payable Income Taxes Payable Bonds Payable Common Stock Retained Earnings Total Liabilities and Stockholder's Equity 19,000 7,000 17,000 18,000 50,000 111,000 15,000 8,000 33,000 14,000 38,000 108,000 $ $ Thomas Company Income Statement For the year ended December 31, 2019 $ 242,000 175,000 67,000 $ 18,000 6,000 Sales Cost of Goods Sold Gross Profit Selling Expenses Administrative Expenses Income from Operations Interest Expense Income before Income Taxes Income Tax Expense Net Income 24,000 43,000 3,000 40,000 8,000 32,000 $ Additional data: During the year equipment was sold for $8,500 cash. This equipment cost $18,000 originally and had accumulated depreciation of $9,500 at the time of the sale. Cash flows from activities Adjustments to reconcile to net cash from activities Net cash activities Cash flows from activities Net cash by activities Cash flows from activities Net cash activities Net _in cash Cash at of period Cash at of period Non-Cash Investing and Financing Activities

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