please when posting the answer can you make sure the page doesnt cut out so i can see the full answer GL1201 - Based on Exercise 12-11 LO P2, P3, A1 Use the following financial statements and additional information TWENINGS INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $ 61,800 81,000 68.000 6.100 216.900 195.000 (48.000 $363.900 $10.400 63,000 94.000 7.600 175.000 181,000 26.000) $340,000 Assets Cash Accounts receivable, het Inventory Prepaid expenses Total current sets Equipment Accum, depreciation Equipment Total assets Liabilities and Equity Accounts payable Wagen payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity $31.000 7.000 3.500 42.500 40,000 82.500 $ 38,000 17.000 5.000 60.000 80.000 140,000 240.000 41.400 $363,900 170.000 30.000 $340,000 TWICE THE The State Torded 3.2009 31.038.000 coat of you 0.000 Gro profit Operating Depreciation open 11,000 Other 303,00 110.000 213,000 Other info Guest 5.300 Bene beton a 213,300 Income taxe 67110 Het nem 1.152.550 Additional Information A $40,000 note payable is retired at its $40,000 carrying (book) value in exchange for cash b. The only changes affoting retained earnings are not income and cosh vidends paid New equipment is acquired for $85.000 cash d. Received cash for the sale of equipment that had cost 571000 yielding a $6.900 gain . Prepaid Expenses and Wages Payable relate to the Expenses on the income statement 1. All purchases and sales of inventory are on credit TWINGS INC Statement of Cash direct Me For Year Ended June 30, 2019 Cashflows from operating activities Adjustments to reconcilie net income to not cash provided by operating and Net cash provided by Financing activities Net cash provided by investing activities Net cash provided by operating activities Net cash used by financing activities Net cash used by Investing activities Net cash used by operating activities ct Method TWINGS INC Stalement of Cash Flows indietro Far Yar Ended June 30, 2013 Cashows from operating acties Adjustments to reconcile net income to net cash provided by pregates