North American Reserve Rare Coins (NARRC) was formed on January 1, 2018. Additional data for the year follow: (Click the icon to view the transactions.) Read the requirements More Info North American Reserve Rare Coins Statement of Cash Flows Year Ended December 31, 2018 On January 1, 2018, NARRC issued no par common stock for $550.000. 8 Cash Flows from Operating Activities: b. Early in January, NARI the following cash payments: $45 000 Receipts: Eor merchandise inventory, $240,000 For rent expense on a store building, $21,000 3 c. Later in the year, NARRC purchased merchandise inventory on account for $245,000. Before year-end, NARRC paid $165,000 of this accounts payable. d. During 2018, NARRC sold 2,000 units of merchandise inventory for $250 each. Before year-end, the company collected 80 % of this amount. Cost of goods sold for Total Cash Receipts Payments: The store employs three people. The combined annual payroll is S82,000, of which NARRC still owes $6,000 at year-end. . f. At the end of the year, NARRC paid income tax f $23,000. There are no income taxes payable. q. Late in 2018, NARRC paid cash dividends of $39.000. h. For store fixtures, NA sers he straight-line depreciation method, over five years, with zero res Total Cash Payments Net Cash Provided by (Used for) Operating Activities Print Done Choose from any list or enter any number in the input fields and then click Check