Creating Financial Statements Statements

$$Identify which elements belong in the balance sheet and income statement

$$Create a Classified Balance Sheet and a Multi$-$step Income Statement

$$Calculate Operating Cash Flow and Working Capital

Inventory $6,500$

Selling expenses $800$

Cash $20,000$

Common Stock $150,000$

Notes Payable $1,200$

Operating Expenses $1,300$

Interest Expense $900$

Sales $14,000$

Depreciation Expense $850$

Accounts Receivable $9,000$

Accounts Payable $6,000$

Cost of Goods Sold $5,000$

Gross Plant, Property & Equip $200,000$

Accumulated Depreciation $45,000$

Taxes $1,300$

Retained earnings $?$