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Consider the following Balance Sheet and Income Statement for Bees Inc. Balance Sheet 2019 2018 Change Assets Cash 117,990 20,000 97,990 Net Accounts Rec. 14,000

Consider the following Balance Sheet and Income Statement for Bees Inc.

Balance Sheet 2019 2018 Change

Assets

Cash 117,990 20,000 97,990

Net Accounts Rec. 14,000 17,000 -3,000

Inventory 40,000 32,000 8,000

Equipment 350,000 300,000 50,000

Accum. Depr. -135,000 -120,000 -15,000

Natural Resources 70,000 45,000 25,000

Accum. Depl. -15,000 -10,000 -5,000

Total Assets 441,900 284,000

Liabilities & Equity

Accounts Payable 26,000 24,200 1,800

Mortgage 80,000 136,300 -56,300

Common Stock 30,000 20,000 10,000

APIC 60,000 40,000 20,000

Retained Earnings 245,990 63,500 182,490

Total liab & equity 441,990 284,000

Income Statement 2019

Sales 520,000

COGS -240,000

Gross Profit 280,000

SG&S Exps -20,000

Depr Exp -15,000

Depl Exp -5,000

EBIT 240,000

Interest -9,000

EBT 231,000

Taxes (21%) -48,510

Net Income 182,490

Calculate Bees Inc.'s financing activity for 2019.

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