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Eastern Corp. Use the following selected data and additional information from the records of Eastern Corp to complete the requirements 2018 $36,000 28,000 31,000 2.000

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Eastern Corp. Use the following selected data and additional information from the records of Eastern Corp to complete the requirements 2018 $36,000 28,000 31,000 2.000 60,000 12.000 50,000 150,000 8,000 2017 $42,000 25,000 35,000 1,000 40,000 16,000 100,000 100,000 20,000 Accounts receivable Accounts payable Salaries payable Bonds payable Common stock 2018 $420,000 300,000 Net salcs Cost of goods sold Opcrating expenses (excluding depreciation expense Net income Gain on sale of equipement (included in net income above) 84,000 30,000 2,000 A) Equipment with a cost of $13,000 and a book value of $3,000 was sold for $5,000 during 2018 B) Common stock was issued to retire bonds payable during 2018. C) The only items affecting retained carnings in 2018 were net income and dividends declared and paid. REQUIRED: (1) What amount was paid to retire bends payable during 20187 (2) How would the transaction to retire bonds by issuing common stock be reported on the statement of cash flows for 2018 for Eastern Corp.? (3) What amount of cash was collected from customers during 2018 (4) What is the amount paid for purchases of merchandise during 2018 (5) What is the amount paid for operating expenses during 2018? (6) What amount was paid to acquire equipmeat during 2018 (7) What amount was recorded as depreciation expense during 2018 (8) What amount was declared and paid for dividends during 20187 (9) Prepare the Operating Activities section of statement of cash lows for Eastern Corp. for 2018 if the direct method is used to determine net cash flow from operating activities. Use good form. (10) Prepare the Operating Activities section of a statement of cash flows for Eastern Corp. for 2018 if the indirect methed is used to determine net cash flow from operating activities. Use good form (1I) Prepare the Investing Activities section of a statement of cash flows for 2018 for Eastern Corp. Use good form (12) Prepare the Finacing Activities section of a statement of cash fnows for 2018 for Eastern Corp. Use good form

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