Midwestem Reserve Rare Coins (MRRC) was formed on January 1, 2018. Additional data for the year follow: (Click the icon view the data.) Read the requirements Requirement 4. Frepare mrnos satemem leave the box empty; do not select a label or enter a zero. Enter asi iows usy ue u veere. for a zero cash balance.) More Info Complete the statement one section at a time, beginning with the cash flows from operating activities. Midwestern Reserve Rare Coins On January 1, 2018, MRRC issued no par common stock for $500,000. Statement of Cash Flows e following cash payments: xtures. $55.000 Year Ended December 31, 2018 For merchandise inventory, $310,000 Cash Flows from Operating Activities: For rent expense on a store building, $19,000 Net Income c. Later in the year, MRRC purchased merchandise inventory on account for $235,000. Before year-end, MRRC pald $145,000 of this accounts payable. Adjustments to Reconcile Net Income to Net Cash d. During 2018, MRRC sold 2,700 units of merchandise inventory for $250 each. Before year-end, the company collected 80 % of this amount. Cost of goods sold for the year was $310,000, and ending merchandise inventory totaled $235,000. Provided by (Used for) Operating Activities: e. combined annual payroll is $90,000, of which MRRC still owes $7,000 at year-end. At the end of the year, MRRC paid income tax of $15,000. There are no income taxes payable. f. q. Late in 2018, MRRC paid cash dividends of $41.000. h. For store fixtures, MRRC uses the straight-line depreciation method, over five years, with zero residual value. Print Net Cash Provided by (Used for) Operating Activities Done Choose from any list or enter any number the input fields and then click Check