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Ir TE 3. Based on the following Information, prepare a statement of cash flows for...

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Accounting

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Ir TE 3. Based on the following Information, prepare a statement of cash flows for T 1 The Marthew Corporation Comparative Balance Sheet As of December 31, 2019 and 20:30 December 31. 2019 Assets 20.30 Cash Marketable Securities Inventories Toual current assets $ 25,000 15.000 25.000 65,000 $80,000 23.000 37000 140,000 Land Warehouse Accumulated depreciation Total Assets 20,000 90,000 (10.000 $165.000 26,000 134,000 (30.000) S270.000 Liabilities Accounts payable Acered expenses Totalcument libilities $ 25,000 15.000 40.000 $ 28,000 17.000 45,000 C 40.000 0.000 145.000 Boods payable 30,000 Notes payable 20.000 Total liabilities 90,000 Shareholders' equity Common stock 40,000 Retained carings 35.000 Tout sucholders' equity 75.000 Total Liabilities and Shareholders Equity S165.000 There were no dispositions of property during the year 70,000 55.000 125.000 $270.000 The Matthew Corporation Income Statement For the Year 2020 Sales 314,000 Cost of Goods Sold 200.000 Gross Profit 114,000 Expenses: Salaries 40,000 Rent 15,000 Depreciation 20,000 All other expenses 5.000 Total Expenses 80,000 Profit Hefore Tax 34,000 Income Tax 6.000 Net Income 28,000

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