I need requirements 2-4!! Please

1. 2. What is the purpose of the statement of cash flows? Prepare CRRC's income statement for the year ended December 31, 2018 Use the single-step format, with all revenues listed together and all expenses listed together. Prepare CRRC's balance sheet at December 31, 2018 Prepare CRRC's statement of cash flows using the indirect method for the year ended December 31, 2018 3. Print Done CRRC paid income tax of $21,000. There are no income nnn WP14-32A (similar to) Classic Reserve Rare Coins (CRRC) was formed on January 1, 2018. Additional data for the year follow: (Click the icon to view the data.) Read the requirements. Requirement 1. What is the purpose of the statement of cash flows? The purpose of the statement of cash flows is to show where cash came from and how cash was spent during the period. Requirement 2. Prepare CRRC's income statement for the year ended December 31, 2018. Use the single-step format, with all revenues listed together and all expenses listed together. Classic Reserve Rare Coins More Info - X Income Statement Year Ended December 31, 2018 Revenue a. On January 1, 2018, CRRC issued no par common stock for $525.000 Sales Revenue Early in January. CRRC made the following cash payments: 1. For store fixtures, $48.000 Expenses: 2. For merchandise inventory. $300,000 Cost of Goods Sold 3. For rent expense on a store building. $13,000 Salaries and Wages Expense c. Later in the year, CRRC purchased merchandise inventory on account for $245,000. Before year-end. CRRC paid $165,000 of this accounts payable Depreciation Expense d. During 2018. CRRC sold 3.000 units of merchandise inventory for $250 each Rent Expense Before year-end, the company collected 85% of this amount. Cost of goods sold for the year was $310,000, and ending merchandise inventory totaled $235,000. Income Tax Expense e. The store employs three people. The combined annual payroll is $84.000, of which Total Expenses CRRC still owes $2.000 at year-end. f. At the end of the year, CRRC paid income tax of $21,000. There are no income Net Income taxes payable. g. Late in 2018, CRRC paid cash dividends of $34.000. h. For store foctures. CRRC uses the straight-line depreciation method, over five years, with zero residual value. Print Done