2018 130,000 42,000 27,000 13,000 75,000 (56,000) 15,000 246,000 2.000 Ricky's Running Shoe Company Comparative Balance Sheet As of December 31 Assets 2019 Cash 349,000 Accounts Receivables, net 55,000 Inventory 15,000 Prepaid Insurance 12,000 Long-term Assets Equipment 85.000 Accumulated Depr. - Equipment (50,000) Note Receivable 15,000 Total Assets 481,000 Liabilities Accounts payable 3,500 Dividends Payable 14,500 Interest Payable 2,000 Income tax payable 5,000 Long-term Notes payable 50,000 Stockholders' Equity Common Stock 120,000 Retained Earnings 286,000 Total Liab. & Stockholders' equity 481,000 Cash Flow Statement for the Year Ending 2019 Cash Flow from Operating Activities Cash received from customers 937,000 Cash received from interest 1,500 Cash received from dividends 3,000 Cash paid for inventory (436,500) Cash paid for insurance 2,000 Cash paid for interest (2.000) Cash paid for taxes (107 500 Cash paid for operating expenses (184,500) Net Cash Flow from Operating Activities 209,000 1,500 7,500 45,000 90,000 100,000 246,000 Cash Flow from Investing Activities Cash received from sale of equipment 5,000 Cash Flow from Financing Activities Cash received from note payable 5,000 Net Increase in Cash Cash January 1 Cash December 31 219.000 130,000 349,000 Equipment with a cost of $20,000 and book value of $1,000 was sold for $5,000. New equipment was purchased for $30,000 by issuing $30,000 of common stock. Prepare an income statement for 2019 using the above information (HINT: S200,500). O Common Stock Retained Earnings 120,000 286,000 481,000 90,000 100,000 246,000 Total Liab. & Stockholders' equity Cash Flow Statement for the Year Ending 2019 Cash Flow from Operating Activities Cash received from customers 937,000 Cash received from interest 1.500 Cash received from dividends 3,000 Cash paid for inventory (436,500) Cash paid for insurance (2.000) Cash paid for interest 2,000) Cash paid for taxes (107 500) Cash paid for operating expenses (184,500 Net Cash Flow from Operating Activities 209,000 Cash Flow from Investing Activities Cash received from sale of equipment 5,000 Cash Flow from Financing Activities Cash received from note payable 5,000 Net Increase in Cash Cash January 1 Cash December 31 219.000 130,000 349.000 Equipment with a cost of $20,000 and book value of $4,000 was sold for $5,000. New equipment was purchased for $30,000 by issuing $30,000 of common stock. Prepare an income statement for 2019 using the above information (HINT: $200,500)