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Leach Inc, experienced the following events for the first two years of its operations: 2018 1. Issued $10,000 of common stock for cash 2. Provided $90,000 of services on account. 3. Provided $27,000 of services and received cash. 4. Collected $63,000 cash from accounts receivable. 5. Paid $16,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 8 percent of the ending accounts receivable balance will be uncollectible. 2019 1. Wrote off an uncollectible account for $690. 2. Provided $110,000 of services on account. 3. Provided $30,000 of services and collected cash. 4. Collected $92,000 cash from accounts receivable. 5. Paid $30,000 of salaries expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 8 percent of the ending accounts receivable balance will be uncollectible. LEACH INC. Accounting Equation for the Year 2018 Equity - Liabilities Common Common Allowance Retained Earnings Event Assets Accounts Receivable Accounting Titles for Retained Cash + - Earnings Stock Prepare an income statement for 2018. LEACH INC. Income Statement For the Year Ended December 31, 2018 Operating expenses Total operating expenses Complete this question by entering your answers in the tabs below. Req D1 Realez Req D3 Reg D4 Reg D5 Reg D6 Prepare an income statement for 2019. (Round your intermediate calculations and LEACH INC. Income Statement For the Year Ended December 31, 2019 Operating expenses Total operating expenses DADA Prepare the statement of changes in stockholders' equity for 2019. (Round you the nearest whole dollar.) LEACH INC. Statement of Changes in Stockholders' Equity For the Year Ended December 31, 2019 Beginning common stock Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity ( Req D2 Reg D4 . Prepare the balance sheet for 2019. (Round your intermediate calculations and fin LEACH INC. Balance Sheet As of December 31, 2019 Assets . ces Total assets Liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity LEACH INC. Statement of Cash Flows For the Year Ended December 31, 2019 Cash flows from operating activities nces Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash Ending cash balance d-1. Organize the transaction data in accounts under an accounting equation. d-2. Prepare an income statement for 2019. d-3. Prepare the statement of changes in stockholders' equity for 2019. d-4. Prepare the balance sheet for 2019. d-5. Prepare the statement of cash flows for 2019. d-6. What is the net realizable value of the accounts receivable at December 31, 2019? Complete this question by entering your answers in the tabs below. Req D1 Req D2 R eq D3 Reg D4 Reg D5 Req D6 What is the net realizable value of the accounts receivable at December 31, 2019? (Round yo final answer to the nearest whole dollar) Net realizable value
