2 3 For the year: 4 Sales 5 Cost of Goods Sold 6 Gross Profit B Calculate for the cells highlighted in yellow Income Statement General, Selling, & Administrative Expense 2016 2017 2018 S 120,000 $ 150,000 $ 100,000 $ $ 50,000 $ 8,500 $ (58,500) 2017 2018 555 18,250 16,500 $ 22,500 150,000 $ 22,500 $ 34,000 $ 28,000 $ 55,000 83,000 8 Depreciation Net Income 10 Balance Sheet 11 For the year ending: 12 Assets 13 Cash 14 Accounts Receivable 15 Net Fixed Assets 16 Total Assets 17 Liabilities 18 Accounts Payable 19 Long-Term Debt 20 Total Liabilities 21 Equity 22 Cash Flow Statement 23 For the year: 24 Cash Flows from Operating Activities 25 Net Income 26 Depreciation 27 Changes in Assets and Liabilities 28 29 Accounts Receivable Accounts Payable 30 Cash Flows from Investing & Financing Activities (None for 2018) 31 Net Cash Flow 32 33 Return on Equity 34 Current Ratio 35 Ratios Determine whether these should be added or subtracted here, thus making the number either positive or negative. 36 16 39 40 41 2018 $ (58,500) N/A (58,500)