Prepare the following:

Income Statement

Balance Sheet

Statement of Cash Flows (Indirect Method)

THE PANAMA PJAMA COMPANY Adjusted Trial Balance 12/31/18 2018 2017 Account Title Balance Sheet Info Debit Adjusted Trial Balance Debit Credit Credit Cash Accounts Recelvable $137,100 12,000 4,400 35,700 11,000 ventory Office Equipment Machinery & Tools Accumulated Depreciation-Plant Assets Accounts Payable Note Payable-Short Term Note Payable-Long Term Common Stock, $10 par Retained Earnings Dividends Sales Revenue Cost of Goods Sold Rent Expense Advertising Expense Depreciation Expense 20,000 21,000 59,000 12,200 10,000 33,000 9,800 15,500 50,000 30,700 11,600 800 2,600 $256,500244,500 Transaction Data for 2018 (Note, these transactions were included in the trial balance numbers above.) Cash paid for purchase of office equipment Cash paid for purchase of tools Acquisition of Machinery with Notes Payable-Long-term Cash payment of dividends Cash receipt from issuance of 10,000 shares of common stock 100,000