Antique Motors, Inc., was formed on January 1, 2018. The following transactions occurred during 2018: (Click the icon to view the transactions.) More Info Read the requirements Requirement 3. Prepare Antique's statement of cash flows for the year ended December 31, 2018. Format cash flows fra nat decrease in cash. Enter "O" for zero balances.) subtracted and Antique Motors, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: On January 1, 2018, Antique issued its common stock for $430,000. Early In January Antique made the following cash payments: a. $160,000 for equipment b. $234,000 for Inventory (slx cars at $39,000 each) c. $18,000 for 2018 rent on a store building In February, Antique purchased four cars for inventory on account. The cost of this inventory was $192,000 ($48,000 per car). Before year-end, the company paid off $76,800 of this debt. The company uses the first-in, first-out (FIFO) method to account for its Inventory During 2018. Antique sold seven autos for a total of $504,000. Before r-end, it had collected 70% of this amount. The business employs two people. The combined annual payroll is $60,000, of which Antique owes $8,000 at year-end. At the end of the year, the company paid income taxes of $22,000. Late in 2018, Antique declared and paid cash dividends of $16,000. For equipment, Antique uses the straight-line depreciation method, over five years, with zero residual value. Adjustments to reconcile net income to nel cash provided by (used for) operating activities: Print Done Net cash provided by (used for) operating activities Cash flows from investing activities: Choose from any list or enter any number in the input fields and then continue to the next question. Antique Motors, Inc., was formed on January 1, 2018. The following transactions occurred during 2018: (Click the icon to view the transactions.) More Info Read the requirements Antique Motors, Inc. Balance Sheet December 31, 2018 Assets Liabilities Current assets: Cash Current liabilities: Accounts payable Salary payable On January 1, 2018, Antique issued its common stock for $430,000. Early in January, Antique made the following cash payments: a. S160,000 for equipment b. $234,000 for inventory (six cars at $39,000 each) c. $18,000 for 2018 rent on a store building In February, Antique purchased four cars for inventory on account. The cost of this inventory was $192,000 ($48,000 per car). Before year-end, the company paid off $76,800 of this debt. The company uses the first-in, first-out (FIFO) method to account for its inventory During 2018, Antique sold seven autos for a total of $504,000. Before year-end, It had collected 70% of this amount. The business employs two people. The combined annual payroll is $60,000, of which Antique owes $8,000 at year-end. At the end of the year, the company paid income taxes of $22,000 Late in 2018, Anticue declared and paid cash dividends of S16,000. For equipment, Antique uses the straight-line depreciation method, over five years, with zero residual value. Accounts receivable Total current liabilities Inventory Total current assets Stockholders' equity Common stock Property, plant, and equipment: Equipment Retained earnings Print Done Less: Accumulated depreciation Total stockholders' equity Total assets Total liabilities and stockholders' equity 7 Requirement 3. Prepare Antique's statement of cash flows for the year ended December 31, 2018. Format cash flows from operating activities using the indirect method. (Use parentheses or a minus sign for numbers to be subtracted and fo DA JAAPARAN IR A CHAMA KARAR Choose from a list or arter an umber in the input fields and then continue to the next cuestioni i More Info Antique Motors, Inc., was formed on January 1, 2018. The following transactions occurred during 2018: i (Click the icon to view the transactions.) Read the requirements. Requirement Prepare Antique's income statement for the year ended December 31, 2018. Use the single-step format, Antique Motors, Inc. Income Statement Year Ended December 31, 2018 Revenue: Sales revenue On January 1, 2018. Antique issued its corrimon stock for $430,000. Early in January, Antique made the following cash payments: a. $160,000 for equipment b. $234,000 for inventory (six cars at $39,000 each) c. $18,000 for 2018 rent on a store building In February, Antique purchased four cars for inventory on account. The cost of this inventory was $192,000 (S48,000 per car). Before year-end, the company paid off $76,800 of this debt. The company uses the first-in, first-out (FIFO) method to account for its inventory During 2018, Antique sold seven autos for a total of $504,000. Before year-end, it had collected 70% of this amount. The business employs two people. The combined annual payroll is $60,000, of which Antique owes $8,000 at year-end. At the end of the year, the company paid income taxes of $22.000 Late in 2018, Antique declared and paid cash dividends of $16.000. For equipment, Antique uses the straight-line depreciation method, over five years. with zero residual value. 504000 Expenses Cost of goods sold Rent expense Salary expense Depreciation expense 32000 Income tax expense 22000 Print Dono Net Income (loss) Requirement 2. Prepare Antique's balance sheet at December 31, 2018 Antique Motors, Inc. Balance Sheet Choose from any list or enter any number in the input fields and then continue to the next question More Info Antique Motors, Inc., was formed on January 1, 2018. The following transactions occurred during 2018: (Click the loon to view the transactions.) Read the requirements. net cash provided by (used for) operating activities: On January 1, 2018, Antique issued ils common stock for $430,000. Early in January. Antique made the following cash payments: a. $160,000 for equipment b. $234,000 for inventory (six cars at $39,000 each) c. $18,000 for 2018 rent on a store building In February, Antique purchased four cars for inventory on account. The cost of this inventory was $192.000 (548,000 per car). Before year-end, the company paid off $76,800 of this debt. The company uses the first-in, first-out (FIFO) method to account for its inventory. During 2018, Antique sold seven autos for a total of $504,000. Before year-end, it had collected 70% of this amount The business employs two people. The combined annual payroll is $60,000, of which Antique owes $8,000 at year-end. At the end of the year, the company paid income taxes of $22,000. Late in 2018, Antique declared and paid cash dividends of $16,000. For equipment, Antique uses the straight-line depreciation method, over five years, with zero residual value. Net cash provided by (used for) operating activities Cash flows from investing activities: Net cash provided by (used for) investing activities Cash flows from financing activities: Print Done Net cash provided by (used for) financing activities Net increase (decrease) in cash Choose from any list or enter any number in the input fields and then continue to the next