CES skysong Inc., a greeting card company, had the following statements prepared as of SKYSONG INC. COMPARATIV E BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 12/31/17 12/31/16 $6,100 $6,900 62,500 51,000 Cash Accounts receivable ents (available-for-sale) 34,800 18,100 udy Inventory 39,600 60,200 4,900 4,000 154,500 130,100 (34,800) (25,300) 46,300 50,400 Prepaid rent Equipment Copyrights $313,900 $295,400 Total assets Accounts payable Salaries and wages payable Long-term loans payable $46,000 $40,200 4,000 6,000 8,100 4,000 8,000 10,000 59,700 69,000 100,000 100,000 30,000 30,000 loans payable Common stock, $10 par MacBook Pro 30,000 30,000 58,100 36,200 $313,900 $295,400 Retained earnings Total liabilities & stockholders' equity INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2017 $339,075 175,000 164,075 119,900 44,175 Cost of goods sold Operating expenses Operating income Interest expense Gain on sale of equipment Income before tax Income tax expense $11,300 2,000 9,300 34,875 6,975 $27,900 Net income Additional information: 1. Dividends in the amount of $6,000 were declared and paid during 2017, 2. Depreciation expense and amortization expense are included in operating expenses. 3. No unrealized gains or losses have occurred on the investments during the year 4. Equipment that had a cost of $19,900 and was 70% depreciated was sold during 2017. the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15 of 30 MacBook Pro (Show amounts that decrease cash ow with (15,000).) to Exercise 238-13 iew Score MacBook Pro