Preparing a Statement of Cash Flows Monon Cable Television Company reported the following financial statements for 2018:

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Monor Cable Television Company Statements of Financial Position December 31, 2018 and 2017 2018 Manon Cable Television Company Statement of Earnings For the Year Ended December 31, 2018 2017 Sales 5519,000 Less operating expenses: ASSETS Current assets: Cash Royalties expense $(240,000) Sa ar es expense (26,000) Utilities expense (83,000) $ 2,000 $ 8,000 Supplies expense (13,000) Accounts receivable Supplies Total current assets 11,300 1,200 14,500 6,000 Rent expense 79,000 1,700 Depreciation expense (28,000) 15,700 Income from operations (469,000) 50.000 Property, plant, and equipment: Other income Equipment (antenra) $ 60,000 $ 35,000 (expenses): Buildings 210,000 Trucks 81,000 351,000 190,000 75,000 300,000 Gair on disposal of 800 property, plant, and equipment Accumulated depreciation (125,000) (131,000) interest expense (1,800) (1,000) Net property, plant, and 226,000 169,000 Income before taxes equipment Less: Income tax 49.000 (9,000) Total assets $240,500 $184,700 expense Net income $ 40,000 LIABILITIES AND EQUITY Current liabilities: Accounts payable Runt payable Royalt es payable $ 6,500 4,900 3,300 $ 8,000 13.600 3,100 Total current liabilities Long-term liabilities Notes payable fong-term) Total liabilities $ 14,700 $ 24,700 40,000 54,700 24,700 Equity: Common shares 100,000 Retained eamings 85,800 100,000 60,000 Total equity 195,800 Total liabilities and equity $240,500 160,000 $184,700 Additional Information: 1. Equipment (an old antenna) with a cost of $35,000 anc accumulated depreciation of $34,000 was taken down and sold as scrap for $1,800 cash during 2018. A new antenna was purchased for cash at an installed cost of $60,000, 2. A building was purchased for $20,000 cash. 3. Trucks were purchased for $6,000 cash. 4. Depreciation expense for 2018 was $28,000. 5. A long-term note payable was issued for $40.000 cash. 6. Dividends of $14,200 were paid during 2018.