Cash Flow Statement

Service Company Financials The following are balances of the Annabella Accounting which you are a major shareholder!!) abella Accounting Corporation (a company of Cash Net Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation Land Security Deposit Office Supplies Payable Interest Payable Salaries Payable Income Tax Payable Note Payable Common Stock (S I each) Retained Earnings December 31, 2017 2018 24,000 12,000 50,000 60,000 6,000 4,000 160,000 200,000 40,000 50,000 36,000 10,000 3,000 6,200 2,000 5,000 43,000 30,000 8,000 9,800 50,000 40,000 58,000 70,000 36,000 2018 Income Statement Information Sales - Accounting Fees 400,000 Salary Expense 210,000 Rent Expense 24,000 Depreciation Expense Interest Expense 5,000 Office Expense 1,000 Income Tax Expense During the year the company paid a dividend of $30,000. Annabella purchased the land on April 1, 2018 by issuing 8,000 shares of common stock worth $8,000 and paying cash for the balance. The Note Payable requires annual payments of $10,000 plus interest on December 31". The Company sold 4,000 shares of common stock on October 1, 2018 for $4,000. The income tax rate is 30% of income before tax. Prepare financials. Cash Flow Statement