Prepare a classified balance sheet as of June 30, 2018 and statement of cash flows for 2018 for Ace Company.

Line items descriptions for the balance sheet: Common stock, other long-term assets, retained earnings, accounts receivable, cash, current liabilities, intangible assets, inventory, long-term liabilities, other current assets, property, plant, and equipment.

Line item descriptions for the statement of cash flows: cash flows provided by operating activities, cash flow from investing activities, cash flow from financing activities, cash beginning of year, cash end of year, increase in cash, decrease in cash.

Cash flow provided by operating activities		$45,000
Cash at June 30, 2017		18,000
Cash at June 30, 2018		35,000
Inventory		12,000
Accounts receivable		24,400
Cash flow from investing activities		(30,600)
Other current assets		3,000
Property, plant and equipment		85,000
Other long-term assets		35,000
Cash flow from financing activities		2,600
Current liabilities		44,000
Inventory Long-term liabilities		36,500
Accounts receivable Intangible assets		19,000
Common stock		102,000
Retained earnings		?