Accounts Payable: $2,500

Accounts receivable: $5,500

administrative expenses: $4,500

Please prepare a STATEMENT OF FINACIAL POSITION & STATEMENT OF CASH FLOWS!

Bank loan $55,000 Cash $130,200 Common shares $51,000 Dividends declared $1,000 Equipment $25,000 Insurance expense $4,800 $4,000 Interest expense Revenue $145,000 Salaries expense $78,500 The following information was also available for the year. Net cash used by operating activities was $50,200 Cash of $25,000 was paid to purchase new equipment Cash of $51,000 was received from the issue of common shares Cash of $55,000 was received from the bank loan Cash of $1,000 was declared and paid for dividends