Problem 2-9b Statement of Cash Flows Use the balance sheet and income statement below. 2018 2018 2017 $ Assets Current assets Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Other long-term assets Total MED CORPORATION Balance Sheet as of December 31, 2018 and 2017 On thousands of dollars) 2017 Liabilities and Equity Current liabilities: $ 83 $ 82 Accrued wages and taxes 202 192 Accounts payable 326 302 Notes payable $ 611 $ 576 Total Long-term debt $ 1106 $ 904 168 124 Stockholders' equity $ 938 $ 780 Common stock 156 156 Retained earnings $ 1,094 $ 936 Total $ 1705 $ 1,512 Total liabilities and equity 68 $ 167 142 377 $ 610 $ $ 52 152 142 346 578 $ $ $ 126 592 718 126 462 588 $ $ Total assets $ 1705 $ 1.512 MED CORPORATION Income Statement for Years Ending December 31, 2018 and 2017 (in thousands of dollars) 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 2018 2017 $ 914 5824 400 363 $ 514 S 461 58 52 $ 456 $409 44 42 $ 412 5 367 59 53 $ 353 $ 314 142 122 Net income $ 211 5 192 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.) 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 s Cash flow from Financing Activities $ Net Change in Cash and marketable securities $