Cash Flow Statement Instructions: Using the Balance Sheet and Income Statement data shown in cells F7 through H46, complete the 2019 Cash Flow Statement shown in cells A7 through D28 by entering the correct labels and formulas in the green cells. Note that the green cells in columns Cand D should contain numbers while the green cells in column A should contain labels. Right Motors Inc. Balance Sheet As of December 31, 2019 2018 Right Motors Inc. Statement of Cash Flows For the Year Ended December 31, 2019 Cash Flows from Operations Net Income $ 127,200 Depreciation Expense Decrease in Accounts Receivable 74,000 Increase in Inventory Increase in Accounts Payable 26,200 Decrease in Accrued Expenses Total Cash Flows from Operations Cash Flows from Investing Fixed Assets Purchases Total Cash Flows from Investing Cash Flows from Financing Repayment of Long-term Debt Sale of Common Stock Dividends Paid Total Cash Flows from Financing Net Change in Cash Balance Beginning Cash Ending Cash Balance Assets Cash Accounts Receivable Inventory Total Current Assets Gross Fixed Assets Accumulated Depreciation Net Plant & Equipment Total Assets $95,500 100,000 375,000 570,500 875,500 446,000 429,500 $1,000,000 $97,000 174,000 265,000 536,000 750,000 346,000 404,000 $940,000 Right Motors Inc. Income Statements For the Years ended December 31, 2019 Sales $3,400,000 Cost of Goods 2,432,000 Gross Profit 968,000 Depreciation Expense 100,000 Selling & Admin. Expense 650,000 Net Operating Income 218,000 Interest Expense 6,000 Earnings Before Taxes 212,000 Taxes 84,800 Net Income $127,200 2018 $3,000,000 2,288,700 711,300 75,000 595,000 41,300 11,270 30,030 12,012 $18,018 $59,000 15,600 74,600 175,000 Liabilities & Owner's Equity Accounts Payable Accrued Expenses Total Current Liabilities Long-term Debt Total Liabilities Common Stock ($3 par) Additional Paid-in-Capital Retained Earnings Total Owner's Equity Total Liab. & Owner's Equity $85,200 10,600 95,800 150,000 245,800 30,000 220,000 504,200 754,200 $1,000,000 97,000 249,600 24,600 210,000 455,800 690,400 $940,000