Please help with Statement of cash flows for December 31, 2018 Balance sheet years are 2018 (277,253) and 2017 (388,753)
Current Assets Cash $ $ 277,253 388,753 Accounts Receivable 175,00C 724,500 Less: Allowance for Doubtful Accounts (28,980) (4,60C Marketable Securities 19,500 18,00C Inventory 30,600 100,000 Prepaid Rent 6,200 22,000 Prepaid Insurance Supplies 3,750 16,00C 450 3,600 $ 1,033,273 Total Current Assets $ 718,753 Property, Plant, & Equipment Equipment 190,000 160,000 Less: Accumulated Depreciation Equipment (72,625) (41,50C Delivery Truck Less: Accumulated Depreciation Delivery Truck 56,500 56,50 (24,764) (15,875 Land 35,000 535,000 Property, Plant, & Equipment (Net) 684,111 194,125 Intangible Assets Patents (Net) 75,00C 70,000 $1,787,384 $ Total Assets 987,87E Current Liabilities Accounts Payable Salaries Payable 197,300 183,30C 36,00C 42,000 Payroll Taxes Payable Interest Payable Dividends Payable 10,300 8,000 7,667 40,00C 15,000 Income Tax Payable 61,585 130,169 Note Payable Short Term 471,640 71,64C Total Current Liabilities 874,076 400,525 Long Term Liabilities Note Payable - Long Term Bond Payable (net premium) Total Long Term Liabilities 175,000 175,00C 213,055 214,353 388,055 389,353 Total Liabilities 789,87E 1,262,131 Stockholders' Equity Comon Stock $1 par Paid in Capital - Common Stock Retained Earnings Less: Treasury Stock (net) Less: Unearned Compensation Total Stockholders' Equity 30,000 41,000 235,000 123,000 376,753 45,000 (57,500) (70,000) 525,253 198,000 Total Liabilities and Stockholders' Equity $ 1,787,384 $ 987,878 Sales $1,331,100 Cost of goods sold Gross profit 622,379 708,721 Operating expenses Compensation expense Salaries expense 2,000 51,000 Rent expense 34,400 Bad debt expense 27,880 Payroll tax expense Advertising expense 9,790 22,000 Insurance expense 46,750 Supplies expense 3,150 Depreciation expense Amortization expense 44,014 5,000 Utilities expense 6,000 Miscellaneous expense 254,484 2,500 Income from operations 454,237 Other revenue and gains Unrealized gain 1,500 Other expenses and losses Interest expense 12,399 Realized loss 1,000 13,399 Income before tax 442,338 Income tax 110,584 Net income for the year 331,753 Current Assets Cash $ $ 277,253 388,753 Accounts Receivable 175,00C 724,500 Less: Allowance for Doubtful Accounts (28,980) (4,60C Marketable Securities 19,500 18,00C Inventory 30,600 100,000 Prepaid Rent 6,200 22,000 Prepaid Insurance Supplies 3,750 16,00C 450 3,600 $ 1,033,273 Total Current Assets $ 718,753 Property, Plant, & Equipment Equipment 190,000 160,000 Less: Accumulated Depreciation Equipment (72,625) (41,50C Delivery Truck Less: Accumulated Depreciation Delivery Truck 56,500 56,50 (24,764) (15,875 Land 35,000 535,000 Property, Plant, & Equipment (Net) 684,111 194,125 Intangible Assets Patents (Net) 75,00C 70,000 $1,787,384 $ Total Assets 987,87E Current Liabilities Accounts Payable Salaries Payable 197,300 183,30C 36,00C 42,000 Payroll Taxes Payable Interest Payable Dividends Payable 10,300 8,000 7,667 40,00C 15,000 Income Tax Payable 61,585 130,169 Note Payable Short Term 471,640 71,64C Total Current Liabilities 874,076 400,525 Long Term Liabilities Note Payable - Long Term Bond Payable (net premium) Total Long Term Liabilities 175,000 175,00C 213,055 214,353 388,055 389,353 Total Liabilities 789,87E 1,262,131 Stockholders' Equity Comon Stock $1 par Paid in Capital - Common Stock Retained Earnings Less: Treasury Stock (net) Less: Unearned Compensation Total Stockholders' Equity 30,000 41,000 235,000 123,000 376,753 45,000 (57,500) (70,000) 525,253 198,000 Total Liabilities and Stockholders' Equity $ 1,787,384 $ 987,878 Sales $1,331,100 Cost of goods sold Gross profit 622,379 708,721 Operating expenses Compensation expense Salaries expense 2,000 51,000 Rent expense 34,400 Bad debt expense 27,880 Payroll tax expense Advertising expense 9,790 22,000 Insurance expense 46,750 Supplies expense 3,150 Depreciation expense Amortization expense 44,014 5,000 Utilities expense 6,000 Miscellaneous expense 254,484 2,500 Income from operations 454,237 Other revenue and gains Unrealized gain 1,500 Other expenses and losses Interest expense 12,399 Realized loss 1,000 13,399 Income before tax 442,338 Income tax 110,584 Net income for the year 331,753
