16-8

S16-8 (similar to) EQuestion Hepe Stenback Media Coporation had the followlng income statement and balance sheet for 2018 mClck the lcon to view the income statement)(Cck the lcon to view the balance sheet) Stenback acquired equipment worth $16.000, and ade payments on the long term notes payable in the amount of 59 800 during the year. Assume the company paid cash for the acquision of plant assets Duing the year Sterback issued a $4.800 note payable Prepae Stenback Media's statemernt of cash flows-indirect method-for the year ended December 31, 2018 (Use a minus sign or parentheses for amounts that nesut in a decrease in cash Ifa box is not used in the statement, leave the box empty, do not select a label or enter Complete the statement one section at a time, beginning uith the cash Sows from operaing actvitles azero) Steeback Media Corporation Data Table Statemest of Cash Flows Year Ended December 31, 201 Stenback Media Corporation Cash Flows from Operating Actviles Income Statement Net Income Adjustments to Reconcile Net Income to Year Ended December 31, 2018 Sales Revenue 82 000 Net Cash Provided by Operating Activies Depreciation Expense-Plant Assets 15.000 48 500 Oner Espenses 18.500 Net Income Print Done Choose trom any lst or enter any number in the input telds and then click Check Answer parts remaining Clear All Check Answer X i Data Table Stenback Media Corporation Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash 5,400 S 4,400 Accounts Receivable 10,100 7,600 Long-term Assets Plants Assets 87,350 103,350 (31,350) (16,350) Accumulated Depreciation-Plant Assets 87,500 S 83,000 Total Assets Liabilities Current Liabilities: 9,500 $ 6,500 Accounts Payable Print Done