Problem 2 Go to page 137, Brayden's Bobbles, calculate the Receivable Turn, Average Days Sales Outstanding, Inventory Turn and the Average Days Sales in Inventory. (Remember Inventory turn was way in the beginning). 137 eroblem 2 From the following information for Brayden's Bobbles, prepare a Statement of Cash Flows for the year ended December 31, 2018. Balance Cash Accounts Receivable 90,000 68,000 70,000 500 25,000 35,000 90,000 3,000 270,000 20,000 Prepaid Insurance Land Security Deposits Accounts Payable Wages Payable Rent Payable Interest Payable Taxes Payable Note Payable Common Stock (S1 each) Retained Earnings Sales Cost of Goods Sold 80,000 120,000 12,000 45,000 6,000 7,500 6,000 16,000 120,000 300,000 120,000 1,200,000 575,000 260,000 24,000 70,000 60,000 15,000 9,000 13,000 52,000 10,000 35,000 10,000 6,000 7,000 5,000 140,000 160,000 50,000 Rent Expense Office Expenses Depreciation Expense Advertising Expense Insurance Expense Interest Expense Income Tax Expense The equipment was acquired on September 30, 2018 for cash. The additional common stock was sold on June 30, 2018 for $1 per share. The company did not sell any equipment during the year. The land purchased during the year was purchased for cash. The retained earnings balance for both years is after all closing entries have been made. The Note Payable requires payments of $20,000 principal plus interest at 10% on June 30m of each year. Read the pages 138-141 before the next class