Championship Boxing, Inc Championship Boxing, Inc. is a small manufacturer of cardboard bowl ou avereported to your first day of work, and the coming articlatements are being and out computer wunction of the correw Ox. 9000 computer has inadvertently red parts of the company's Balance sheet with most all stated to except the companyament The IT coment is wrong to reve earlier bad but estimates that the reconstruction of the totale about 24 hours Unfortunately, financial statements are to be present stockholders meting in one hour The company them to prepare as statement of cows rather the rest me new supervisor believes the missing data for the bence sheet can be reared using the statement of how we read this task, since you were to set in your business horm. Manie, the supervisor will go to the stockholders' meeting and give some introductory remake In addition to the man of cash flows, the flowing data sure the commis . The investments were sold for $200,000 C . Egipment was cuired for 151,020 ch - Land was arredor $325,000 There were no disposals of equipment during the year 12,500 shares of commencer su for cash during the year There was a 96.000debit to Butaned tamnings for cash dividends decret Statement of Cash Flows Your super has provide you with the following statement of cathored the methodRecat that team of cashmere Gews from wes, and count Reviews and the proceed to the next one Championship Boxing, Inc. Statement of Cash Flow For the Year Ended December 31, 2018 Cashows from (ted for operating activities Net Income $186,540 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation 18,400 Gain on sale of investments (50,000) Changes in current operating assets and liabilities: Increase in accounts receivable (25,390) Increase in inventories (33,550) Increase in accounts payable 41,070 Decrease in accrued expenses payable (12,460) Net cash flow from operating activities $124,610 Cash flows from (used for) investing activities: Cash received from sale of investments $280,000 Cash paid for purchase of land (326,000) Cash paid for purchase of equipment (151,920) Net cash flow used for investing activities (197,920) Cash nows from (used for) financing activities: Cash received from sale of common stock $187,500 Cash paid for dividends (91,200) Net cash flow from financing activities 96,300 Net Increase in cash $22,990 Cash balance, January 1, 2018 585,920 Cash 608,990 x $585,920 Accounts receivable (net) Inventories 230,970 205,580 651,770 x Investments 618,320 0 Land 230,000 326,000 0 Equipment Accumulated depreciation-equipment 705,120 553,120 x Total assets (166,400) 2,356,530 X -148,000 2,045,040 x Liabilities Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable Total abilities 432,900 $391,830 41,160 53,620 24,000 19,200 $498,060 464,650 Stockholders' Equity Common stock, 14 par Innnn 464,650 Stockholders' Equity Common stock, $4 par Pald-in capital in excess of par 150,000 417,500 Retained earnings Total stockholders' equity Total Viabilities and stockholders' equity $100,000 280,000 1,200,410 x 1,290,950 x $1,858,410 1,580,410 X feedb 2,356,530 x 2,045,040 X My Wor Review the relationships between the beginninn