Balance Sheet and Income Statement information is provided below for the Western Boot Company.
Balance Sheet Information 12/31/19
12/31/18
Cash 45,785 S 39.060 Accounts Receivable 21,835 25.000 Inventory 71.320 80,080 Equipment 105.000 86,940 Accumulated Depreciation (65.700) (62,000) Patents 15.000 3.000 Total Assets S193.240 $172.080 Accounts Payable S 36,900 $ 78,075 Notes Payable 35,000 20,500 Common Stock 90,000 45,000 Retained Earnings 31.340 28.505 Total Liabilities and Stockholders' Equity S193.240 $172.080 Income Statement Information for the Year Ended December 31, 2019 Revenue S408,365 Expenses (362,830) Depreciation 3.700) Net Income $41.833 Additional information for the year 2019: 1. Additional equipment was purchased for $18,060. 2. A patent was purchased from a competitor for S12,000 3. S45,000 of additional common stock was issued. 4. Dividends were declared and paid in the amount of $39,000 5. An additional long-term loan of S14,500 was issued. Required: Prepare a statement of cash flows for the year ending
