Data Table X Banks Corporation Comparative Balance Sheet December 31, 2018 and 2017 Increase 2018 2017 (Decrease) Assets Current Assets: Cash $ 76,000 $ 11,000 $ 65,000 Accounts Receivable 17,000 24,000 (7,000) Merchandise Inventory 40,000 32,000 8,000 Long-term Assets: Plant Assets 113,000 202,700 (23,700) 89,700 (21,700) Accumulated DepreciationPlant Assets (2,000) $ 312,000 $ 135,000 $ 177,000 Total Assets Liabilities Current Liabilities: Accounts Payable 36,000 $ 28,000 $ 8,000 Accrued Liabilities 7,000 14,000 (7,000) Income Tax Dovabla 12nnn 12nnn Data Table Plant Assets 89,700 202,700 (23,700) 113,000 (2,000) Accumulated DepreciationPlant Assets (21,700) $ 312,000 $ 135,000 $ 177,000 Total Assets Liabilities Current Liabilities: Accounts Payable $ 36,000 $ 28,000 $ 8,000 Accrued Liabilities 7,000 14,000 (7,000) Income Tax Payable 12,000 12,000 0 Long-term Liabilities: Bonds Payable 78,000 52,000 26,000 Total Liabilities 133,000 106,000 27,000 Stockholders' Equity 60,000 Common Stock, no par 18,000 Retained Earnings 138,000 (19,000) 20,000 (9,000) 42,000 118,000 (10,000) Treasury Stock Total Stockholders' Equity 179,000 29,000 150,000 $ Total Liabilities and Stockholders' Equity 312,000 $ 135,000 $ 177,000 Data Table Transaction data for 2018 Cash paid for purchase of equipment $ 190,000 14,000 20,000 Cash payment of dividends Issuance of common stock to retire bonds payable Issuance of bonds payable to borrow cash Cash receipt from issuance of common stock Cash receipt from sale of equipment (Cost, $77,000; Accumulated Depreciation, $9,000) Cash paid for purchase of treasury stock 46,000 22,000 65,000 10,000 Print Done Data Table Banks Corporation Income Statement Year Ended December 31, 2018 Net Sales Revenue 688,000 470,000 Cost of Goods Sold Gross Profit 218,000 Operating Expenses: Salaries and Wages Expense Depreciation ExpensePlant Assets 43,000 11,000 5,000 Rent Expense 59,000 Total Operating Expenses Operating Income Other Income and (Expenses): 159,000 Loss on Disposal of Plant Assets (3,000) Total Other Income and (Expenses) (3,000) Net Income Before Income Taxes 156,000 24,000 Income Tax Expense $ 132,000 Net Income Print Done Complete the statement one section at a time, beginning with the cash flows from operating activities. Banks Corporation Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: Net Income 132,000 Adjustments to Reconcile Net Income to Net Cash Provided (Used for) by Operating Activities: Depreciation ExpensePlant Assets Loss on Disposal of Plant Assets 11,000 3,000 Decrease in Accrued Liabilities 7,000 -8,000 Increase in Merchandise Inventory Increase in Accounts Payable 8,000 Decrease in Accrued Liabilities -7,000 Net Cash Provided by (Used for) Operating Activities 146,000 146,000 Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Cash Payment for Acquisition of Plant Assets Cash Receipt from Disposal of Plant Assets -190,000 65,000 -125,000 Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Cash Receipt from Issuance of Bonds Payable Cash Receipt from Issuance of Common Stock Cash Payment for Purchase of Treasury Stock Cash Payment of Dividends 44,000 Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash 65,000 Cash Balance, December 31, 2017 11,000 Cash Balance, December 31, 2018 76,000 Non-cash Investing and Financing Activities: Cash Flows from Financing Activities: Cash Receipt from Issuance of Bonds Payable Cash Receipt from Issuance of Common Stock Cash Payment for Purchase of Treasury Stock Cash Payment of Dividends 44,000 Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash 65,000 Cash Balance, December 31, 2017 11,000 Cash Balance, December 31, 2018 76,000 Non-cash Investing and Financing Activities: Issuance of Common Stock to Retire Bonds Payable 20,000 Total Non-cash Investing and Financing Activities 20,000 Choose from any list or enter any number in the input fields and then continue to the next