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please help thank you! The Extra Surplus Company's Balance Sheet for December 31, 2017 and the Income Statement for 2018 are shown below. Additional data:
please help thank you! The Extra Surplus Company's Balance Sheet for December 31, 2017 and the Income Statement for 2018 are shown below. Additional data: - Sales were $26,000,$16,000 in cash was received from customers. - Bought new land for cash, $20,000 - Sold other land for its book value of $10,000 - Paid $2,000 principal on the long-term note payable and $2,000 in interest. - Issued new shares of stock for $20,000cash. - Cast dividends of $3.000 were declared and paid to stockhoiders - Paid $11,500 on accounts payable - No inventory purchases were made; other expenses were incurred on account - All wages were paid in cash. - Other expenses were on account. Required: a. Prepare a balance sheet at December 31,2018. b. Prepare the statement of cash flows using the direct method. Complete this question by entering your answers in the tabs below. Prepare a balance sheet at December 31, 2018. Prepare the statement of cash flows using the direct method. (Enter any deductions and cash outflows as a neg
please help thank you!
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