On December $31,2018,$ The KLM company's balance sheet showed the following account balances $($there were no other accounts listed$)$:

Accounts receivables $129,$ Loan made to the ABC company $35,$ Accumulated depreciation $50,$ Paid in capital $500,$ Accounts payable $161,$ Wages payable $4,$ PP&E $200,$ Retained earnings $304,$ Inventory $49,$ Prepaid rent $12,$ Cash $(?).$

During $2019$ the following transactions occurred:

Collections from customers were $$753.$

A machine $($PP&E$)$ was purchased for $$250,$ all in cash.

The total cost of goods sold during the year was $$656.$

Sales, all on credit, were $$777.$

Marketing expenses were $$25$; of this amount, $$18$ was paid in cash.

The CEO of KLM announced she would resign her position effective June $30,2020.$

KLM purchased $$666$ worth of inventory, on account.

The employees of KLM earned $$48$ as wages. Cash payments to employees were $$42.$

Payments on accounts payable were $$777.$

Depreciation expense was $$30.$

Rent in the amount of $$30$ was paid, in cash, during the year. The "Prepaid rent" account balance at the end of the year was $$3.$

The ABC company was supposed to pay KLM $$5$ as interest for $2019$ on its loan; however, due to a strike in the postal service the payment had arrived on January $15,2020.$

A dividend of $$48$ was declared during $2019,$ but was not paid.

A long$-$term loan in the amount of $$50$ was taken from a local bank.

Required:

a$.$ What was the balance of the Cash account on December $31,2018?$

b$.$ Record all the transactions that occurred during $2019.$ You may use journal entries or the accounting equation to record transactions.

c$.$ Prepare an Income Statement for the year ended December $31,2019.$

d$.$ Prepare a Balance Sheet for December $31,2019.$

e$.$ Prepare a Statement of Cash Flows for the year ended December $31,2019.$ Use the indirect approach.$|$