Problem 2-9b Statement of Cash Flows 2018 2017 $ Use the balance sheet and income statement below: MED CORPORATION Balance Sheet as of December 31, 2018 and 2017 (in thousands of dollars) Assets 2018 2017 Liabilities and Equity Current assets: Current liabilities: Cash and marketable securities $ 83 $ 82 Accrued wages and taxes Accounts receivable 202 192 Accounts payable Inventory 326 302 Notes payable Total $ 611 $ 576 Total Fixed assets: Long-term debt Gross plant and equipment $ 1,106 $ 904 Less: Accumulated depreciation 168 124 Stockholders' equity Net plant and equipment $ 938 $ 780 Common stock Other long-term assets 156 156 Retained earnings $ 1,094 $ 936 Total Total assets $ 1705 $ 1.512 Total liabilities and equity 68 52 167 152 142 142 377 $ 346 610 $ 578 $ $ $ $ Total 126 126 592 462 718 $ 588 $ $ 1705 $ 1,512 MED CORPORATION Income Statement for Years Ending December 31, 2018 and 2017 (in thousands of dollars) 2018 2017 $ 914 $ 824 400 363 $ 514 $ 461 58 52 Net sales Less: Cost of goods sold Gross profits Less: Other operating expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) Less: Depreciation Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income $ 456 $ 409 44 42 $ 412 $ 367 59 53 $ 353 $ 314 142 122 $ 211 $ 192 81 81 Dividends Prepare a statement of cash flows for MED Corporation (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.) Cash flow from Operating Activities Cash flow from Investing Activities $ Cash flow from Financing Activities $ Net Change in Cash and marketable securities $