balance sheets of Whit Inc as of December 31, 2017 and are the the balance sheet and the supplementalinformation given below,complete the Below are information in t cash flow statement. 2018. Using the ntal information given below, complete the There were no purchases or sales of land during 2018 Whit Inc sold a piece of equipment for a gain of $10,000. The piece of equipment During 2018, originally cost $100,000 and had a book value of $25,000 when sold. During 2018, Whit Inc repaid $250,000 of notes payable and borrowed additional funds by issuing notes. Whit Inc earned $545,000 of net income in 2018. 2017 750,000 450,000 475,000500,000 400,000 350,000 200,000 200,000 2018 Cash Accounts Receivable Inventory Land Equipment Accumulated Depreciation500, 000 50,000 (175,000 (200,000) Total Assets Accounts Payable Salaries Payable Notes Payable Contributed Capital Retained Earnings Total Liabilities & SH Equity 190,000210,000 0 350,000 250,000 300,000300,000 1310,000875,000 2.150.000 1.650.000 CASH FLOWS FROM OPERATIONS NET INCOME ADD (DEDUCT) RECONCILING ITEMS $545,000 NET CASH FLOWS FROM OPERATING ACTIVITIES CASH FLOWS FROM INVESTING ACTIVITIES NET CASH FLOWS FROM INVESTING ACTIVITIES CASH FLOWS FROM FINANCING ACTIVITIES NET CASH FLOWS FROM FINANCING ACTIVITIES NET INCREASE (DECREASE) IN CASH 300,000 BEGINNING CASH BALANCE ENDING CASH BALANCE 750000