Required information [The following information applies to the questions displayed below.) The following transactions apply to Ozark Sales for 2018: $50 1. The business was started when the company received $50.000 from the issue of common stock 2. Purchased equipment inventory of $380,000 on account. 3. Sold equipment for S510,000 cash (not including sales tax). Sales tax of 8 percent is collected when the merchandise is sold. The merchandise had a cost of $330,000. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 2 percent of sales 5. Paid the sales tax to the state agency on $400,000 of the sales. 6. On September 1, 2018, borrowed $50,000 from the local bank. The note had a 4 percent interest rate and matured on March 1, 2019 7. Paid S6,200 for warranty repairs during the year. 8. Paid operating expenses of $78,000 for the year. 9. Paid $250,000 of accounts payable. 10. Recorded accrued interest on the note issued in transaction no. 6. Stax) posto Base thes b. Prepare the income statement, balance sheet, and statement of cash flows for 2018 calba Complete this question by entering your answers in the tabs below. Reg B Bal Sheet Start Red Stmt Cash Flows Prepare the income statement for 2018. (Do not round Intermediate calculations and round your answer to nearest whole action OZARK SALES Income Statement statem decrea ating a as an Prev 1 of 1 Next b. Prepare the income statement, balance sheet and statement of cash flows for 2018. Complete this question by entering your answers in the tabs below. - Req B Inc Req B Bal Reg B Stmt Stmt Sheet Cash Flows Prepare the income statement for 2018. (Do not round intermediate calculations and round your answer to dollar.) OZARK SALES Income Statement For the Year Ended December 31, 2013 Golubic .com Expenses Total operating expenses Req B Bal Sheet > Prey 1 of 1 Next re to search o e prob Current Liab Required information Req B Inc Stmt R eq B Bal Sheet Req B Stmt Cash Flows Prepare the balance sheet for 2018. (Do not round intermediate calculations and round your answer OZARK SALES Balance Sheet As of December 31, 2018 Assets Total assets Liabilities - V Total liabilities Stockholders' equity IIIIIIIIT Total stockholders' equity Total abilities and stockholders equity ere to search Prev 1 of 1 Next Oo oo PUU LUCILLIU Required information Req B Inc Stmt Req B Bal Sheet Req B Stmt Cash Flows Prepare the statement of cash flows for 2018. (Amounts to be deducted should be indicated with OZARK SALES Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net cash flows from financing activities Net change in cash Ending cash balance Prey 1 of 1 Next re to search o e prob Current Liab Required information Req B Inc Stmt R eq B Bal Sheet Req B Stmt Cash Flows Prepare the balance sheet for 2018. (Do not round intermediate calculations and round your answer OZARK SALES Balance Sheet As of December 31, 2018 Assets Total assets Liabilities - V Total liabilities Stockholders' equity IIIIIIIIT Total stockholders' equity Total abilities and stockholders equity ere to search Prev 1 of 1 Next Oo oo PUU LUCILLIU Required information Req B Inc Stmt Req B Bal Sheet Req B Stmt Cash Flows Prepare the statement of cash flows for 2018. (Amounts to be deducted should be indicated with OZARK SALES Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net cash flows from financing activities Net change in cash Ending cash balance
