6. The following are the Balance Sheets for the Florence Company at December 31, 2017 and 2018.Based on these and the other data following them, prepare a 2018 Cash Flow Statement in the proper form for the Florence Company. Be sure to include all correct headings and totals. 25 points 2017 2018 Assets: Current assets: Cash Accounts receivable, net Inventories Total current assets 165,000 320,000 410,000 895,000 210,000 370,000 380,000 960,000 Equipment, net 520,000 580,000 Total assets 1,415,000 1.540,000 Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued expenses Total Current liabilities 345,000 110,000 455,000 280,000 135.000 415,000 Long-term debt Total liabilities 620,000 1,075,000 710,000 1.125,000 Stockholders Equity: Common stock Add'l Paid in Capital Retained Earnings 20,000 80,000 290,000 390,000 -50,000 340,000 25,000 100,000 375,000 500,000 -85,000 415,000 Less, Treasury stock Total equity Total liabilities and stockholders'equity 1.415.000 1.540,000 Additional data for 2018: 1.) Net income was 115,000 2.) Dividends paid were 30,000 3.) Equipment purchases totaled 120,000 4.) Sold equipment with a net book value of 20,000 for 35,000 5.) Depreciation totaled 40,000 6.) Sold 5,000 shares of common stock for $5.per share 7.) Purchased 7,000 shares of treasury stock for $5 per share 8.) Borrowed 150,000 under a new long term loan and repaid 25,000 on it before year end 9.) Repaid 35,000 on another long term loan 10.) Florence paid 40,000 in income taxes and 50,000 in interest 11.) The allowance for bad debts was 20,000 on December 31, 2017 and 30,000 on December 31, 2018. Bad debt expense was 15,000 and write offs were 5,000 for 2018