More Info Additionally, Granite Rock purchased land of S27.900 by financing it 100% with long-term notes payable during 2018. During the year, there were no sales of land no retirements of stock, and no treasury stock transactions. A plant asset was disposed of for $0. The cost and accumulated depreciation of the disposed asset was $11,340. The plant acquisition was for cash Data Table Current As Cash Granite Rock, Inc. Accour Income Statement Mercha Year Ended December 31, 2018 Long-term Net Sales Revenue $ 442,000 Land 200,200 Cost of Goods Sold Plant A Gross Profift 241,800 Accum Operating Expenses: Total Asset Salaries Expense S 79,400 Depreciation Expense-Plant Assets 14,600 Current Lia 10,400 Other Operating Expenses Account 104,400 Total Operating Expenses Accrued Operating Income 137.400 Other Income and (Expenses) Notes P Interest Revenue 8,900 Total Liabilit (21,700) Interest Expense (12,800) Total Other Income and (Expenses) Common St Net Income Before Income Taxes 124.600 Ea Income Tax Expense 19,600 $ 105,000 Income Print Done This Data Table December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash S 26,400 $ 15,900 Accounts Receivable 26,900 25,500 Merchandise Inventory 79,700 92,000 Long-term Assets: Land 4,900 7,000 Plant Assets 117,980 108,520 21,080) (17 820) Accumulated Depreciation-Plant Assets $ 264,800 $ 231,100 Total Assets Liabilities Current Liabilities: Accounts Payable $35,300 S 30.200 Accrued Liabilities 27,90030,600 Long-term Liabilities 77 000 103,000 Notes Payable Total Liabilities 140,200 163,800 Stockholders' Equity Common Stock, no par 64,100 88,500 36,100 3.200 Retained Earnings 124,600 67,300 Total Stockholders Equity $ 264,800 $ 231,100 Total Liabilities and Stockholders Equity Print Done The 2018 income statement and comparative balance sheet of Granite Rock, Inc. follow EEB (Click the icon to view the income statement) Click the icon to view the comparative balance sheet) Granite Rock, Inc. Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities 105000 Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities Depreciation Expense- Plant Assets Increase in Accounts Receivable Decrease in Merchandise Inventory Decrease in Accrued Liabilities Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities Net Cash Provided by (Used for) Investing Activi ties Cash Flows from Financing Activities Choose from any list or enter any number in the input fields and then continue to the next question ave for Later by (Used for) (Used Net Increase (Decrease) in Cash Cash Balance, December 31, 2017 Cash Balance, December 31, 2018 O A. Leam how to predict future cash flows, evaluate management decisions, and predict the ability of the company to pay their debts and dividends O B. Leam how operating activities, investing activities, and financing activities generate cash receipts and cash payments O C. Both A and B O D. None of the above Choose from any list or enter any number in the input fields and then continue to the next