please dont provide answer in image format thank you   Great Lakes Manufacturing Inc. comparative Statement of Financial Position at December 31in (000)'s      20X5    20X4 Cash    $    5,100         $    4,800      Accounts Receivable    $    9,010         $    6,100      Inventory    $    10,400         $    14,000      Prepaid Expenses    $    1,950         $    1,020      Equipment    $    58,500         $    59,900      Accumulated Depreciation - equipment    $    (33,100    )    $    (32,000    ) Total Assets    $    51,860         $    53,820                                      Account Payable    $    7,000         $    11,400      Interest Payable    $    350         $    110      Income taxes payable    $    650         $    500      Dividends Payable    $    2,400         $    3,200      Long-term Notes Payable    $    17,500         $    17,000      Common shares    $    22,000         $    20,000      Retained Earnings    $    1,960         $    1,610      Total Liabilities & Shareholders' Equity    $    51,860         $    53,820      Great Lakes Manufacturing Inc. Income Statement Year Ended December 31, 20X5 in (000)'s Sale                   $    130,000 Cost of goods sold                   $    97,000 Gross Profit                   $    33,000 Operating Expenses    $    30,000                Gain on Sale of equipment    $    (1,000    )    $    29,000 Profit from Operations                   $    4,000 Other expenses                          Interest Expense                   $    200 Profit before Income Tax                   $    3,800 Income Tax Expense                   $    1,550 Profit                   $    2,250 Additional Information: Operating expenses include depreciation expense of $3,500,000 Accounts Payable related to the purchase of inventory Equipment that cost $3,900,000 was sold at a gain of $1,000,000 New equipment was purchased during the year for $2,500,000 Dividends declared and paid in 20X5 totaled $1,900,000 Common shares were sold for $2,000,000 cash Interest payable in 20X5 was $240,000 greater than interest payable in 20X4 What is the total cash payments for interest when the direct cash flow method is used? Multiple Choice None of the other alternatives are correct $440 $160 $40 $200

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Great Lakes Manufacturing Inc. comparative Statement of Financial Position at December 31in (000)'s


     20X5    20X4
Cash    $    5,100         $    4,800     
Accounts Receivable    $    9,010         $    6,100     
Inventory    $    10,400         $    14,000     
Prepaid Expenses    $    1,950         $    1,020     
Equipment    $    58,500         $    59,900     
Accumulated Depreciation - equipment    $    (33,100    )    $    (32,000    )
Total Assets    $    51,860         $    53,820     
                               
Account Payable    $    7,000         $    11,400     
Interest Payable    $    350         $    110     
Income taxes payable    $    650         $    500     
Dividends Payable    $    2,400         $    3,200     
Long-term Notes Payable    $    17,500         $    17,000     
Common shares    $    22,000         $    20,000     
Retained Earnings    $    1,960         $    1,610     
Total Liabilities & Shareholders' Equity    $    51,860         $    53,820     


Great Lakes Manufacturing Inc.
Income Statement
Year Ended December 31, 20X5 in (000)'s
Sale                   $    130,000
Cost of goods sold                   $    97,000
Gross Profit                   $    33,000
Operating Expenses    $    30,000               
Gain on Sale of equipment    $    (1,000    )    $    29,000
Profit from Operations                   $    4,000
Other expenses                         
Interest Expense                   $    200
Profit before Income Tax                   $    3,800
Income Tax Expense                   $    1,550
Profit                   $    2,250

Additional Information:

Operating expenses include depreciation expense of $3,500,000
Accounts Payable related to the purchase of inventory
Equipment that cost $3,900,000 was sold at a gain of $1,000,000
New equipment was purchased during the year for $2,500,000
Dividends declared and paid in 20X5 totaled $1,900,000
Common shares were sold for $2,000,000 cash
Interest payable in 20X5 was $240,000 greater than interest payable in 20X4
What is the total cash payments for interest when the direct cash flow method is used?

Multiple Choice
None of the other alternatives are correct
$440
$160
$40
$200

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