ignment #10 A Saved The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Wright Additional information from Wright's accounting records is provided also. WRIGHT COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in eees) 2018 2017 102 106 65 Assets Cash Accounts receivable Short-term investment Inventory Land Buildings and equipment Less: Accumulated depreciation 110 22. les 95 109 78 600 (157) $ 887 470 (116) 757 $ 36 $ 10 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 26 170 340 270 135 155 117 $ 887 $ 757 WRIGHT COMPANY signment #10 0 Saved $ 450 WRIGHT COMPANY Income Statement For Year Ended December 31, 2018 ($ in 2005) Revenues: Sales revenue Expenses: Cost of goods sold Salaries expense Depreciation expense Interest expense Loss on sale of land Income tax expense Net income $ 200 Additional information from the accounting records a. Land that originally cost $17,000 was sold for $12,000. b. The common stock of Microsoft Corporation was purchased for $27000 as a short-term investment not classified as a cash equivalent c. New equipment was purchased for $130,000 cash. d. A $26.000 note was paid at maturity on January 1 e. On January 1, 2018, bonds were sold at their $52.000 face value. f Common stock ($70.000 par) was sold for $90.000. g. Net income was $70,000 and cash dividends of $45.000 were paid to shareholders. Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2018. Present cash flows from opera Prey 1 of 15 ! Next > WRIGHT COMPANY Statement of Cash Flows For year ended December 31, 2018 (S in 000s) Cash flows from operating activities: Cash inflows: Cash outflows: Net cash flows from operating activities. Cash flows from investing activities: Prev 1 of 15 N Net cash flows from operating activities. Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Cash balance, January 1 Cash balance, December 31