$35,000 The following events apply to Novid Co for the 2018 fiscal year: 1 Received $210,000 cash from the issue of common stock. 2 Paid $100,000 cash for a new for Vehicle. 3 Paid $68,000 cash for operating expenses. 4 Earned $310,000 in cash revenue. 5 Paid $145,000 cash for salaries expense. 6 Adjusted the records to reflect the use of the Vehicle. The vehicle, purchased on January 1, 2018, has an expected useful life of five years and an estimated salvage value of Use straight-line depreciation. The depreciation transaction was made as of December 31, 2018. REQUIRED Record the above transactions in a horizontal statements model b. What amount of depreciation expense would The Novid Co report on the 2018 income statement? What amount of accumulated depreciation would The Novid Co report on the December 31, 2018, balance sheet? d. Would the cash flow from operating activities be affected by depreciation in 2018? a. c