ACCT 300-Fall 2019 Ch 5-Group Case #2 (Due Tues, Oct 15) Using Excel and the information below. prepare a statement of cash flows for 2018 for Burr Company Burr Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventories Land Buildings Accumulated depreciation-building Totals 2018 $25,000 60,000 75,000 120,000 200,000 (66.000) $414.000 2017 S15,000 40,000 100,000 105,000 160,000 (50,000) $370,000 Liabilities & Stockholders' Equity Accounts payable Wages payable Bonds payable Common stock (S5 par) Retained earnings Totals 50.000 10,000 169,000 100,000 85.000 $414,000 37,000 7,000 190,000 60,000 76,000 $370,000 Burr Company Income Statement For the Year Ended December 31, 2018 Revenues: Sales $150,000 Gain on sale of building 10.000 $160,000 Expenses: Cost of goods sold 80,000 Wages expenses 25,000 Depreciation expense 30,000 Interest expense 10.000 145.000 Net income SI5.000 Additional information: Purchased land for $15,000. Purchased building for $76,000. A different building was sold for $32,000. It had an original cost of $36,000 and accumulated depreciation of $14,000. Paid $21,000 to retire a maturing bond payable. Paid cash dividends. Issued common stock for $40,000