With the balance sheet information from P10.5, and the additional information from the income statement and statement of retained earnings, prepare the motel’s statement of changes to working capital for the year ending December 31, 0008.LO1

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Income Statement for Year Ended December 31, 0007 Sales revenue $204,900 Operating costs ( 173,800) Income before depreciation and interest and tax 31,100 Depreciation, building ( 8,300) Depreciation, furniture and equipment 3,700) Income before interest and tax $ 19,100 Interest Operating income (before tax) Income tax Net income ( 10,800) $ 8,300 1,500) $ 6,800 Statement of Retained Earnings For Year Ended December 31, 0007 Retained earnings, January 1, 0007 Add: Net income for year Subtotal Deduct: Dividends paid Retained earnings, December 31, 0007 $ 22,800 6,800 $ 29,600 3,200) $ 26,400