Complete End of Year Balance Sheet and Cash Flow Statements. Cash$230,000 Common Stock$500,000 Materials$75,000 Machinery$62,500 Patent$125,000 Legal Fees$7,500 Total Assets$500,000 Total Equity$500,000 6 Months Cash Flow Operations Purchase of Materials (75,000) Total Operations (75,000) Investing Purchase of Machinery (62,500) Payment of Organization Costs (7,500) Total Investing (70,000) Financing Activities Sale of Common Stock 375,000 Total of Financing 375,000 Total Cash Flows 230,000 Cash June 30 230,000 Income Statement End of the Year Sales $754,500 Expenses Advertising $22,500 Manufacturing $350,000 Corporate $80,000 Interest $750 Materials $195,000 Prototypes $23,750 Legal Fees $7,500 Total Expenses $679,500 Expenses (noncash) Depreciation $10,625 Amortization Patent $25,000 $35,625 Income $39,375 Balance Sheet end of the year Cash$160,000 Common Stock$0 Materials$0 Retained Earnings$0 Accounts Receivable$0 Current Assets $160,000 Machinery (net) $0 Patent $0 Total Assets $160,000 Total Equity$0 Cash Flow End Of the Year Operations Income $39,375 Expenses not using cash Amortization of Patent $25,000 Depreciation $10,625 $75,000 Increase in Accounts Receivable $0 Increase in Inventory $0 Cash Used in Operations $75,000 Investments Machinery Purchases $0 Total Investments $0 Cashed used in Financing Borrowed from bank $0 Repaid to the Bank $0 $0 Net Change in Cash $75,000 Beginning Cash $375,000 Ending Cash $450,000