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2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets $127,70074,600 55,000 65,00090,000 5,600 70,000 4,500 267,200 15 points 131,000121,000 (33,000 011,000) $365,200 $335,200 eBook Ask Print References Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings 28,000 $ 34,000 17,000 4,200 200 70,000 125,200 3,800 38,800 35,000 73,800 250,000180,000 30,000 $365,200 $335,200 41,400 Total liabilities and equity ONPOINT INC. Income Statement For Year Ended June 30, 2017 Sales Cost of goods sold Gross profit Operating expenses $699,000 427,000 Depreciation expense Other expenses Total operating expenses $61,000 69,000 130,000 142,000 2,200 44,140 Other gains (losses) Gain on sale of equipment Income before taxes Income taxes expense Net income $100,060 Kequirement l riai a lance lui rect Metnoa ournal Ledger Method Prepare the Statement of Cash flows for the year ended June 30, 2017 using the Direct Met T-account on the General Ledger tab to identify the sources and uses of cash. List casl values. Unadjusted ONPOINT INC. Statement of Cash Flows (Direct Method) For Year Ended June 30, 2017 Cash flows from operating activities: Cash flows from investing activities: Cash flows from financing activities

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