Retro Motors, Inc., was formed on January 1, 2018. The following transactions occurred during 2018: (Click the icon to view the transactions.) Read the requirements Requirement 1. Prepare Retro's income statement for the year ended December 31, 2018. Use the single-step format, with all revenues listed together and all expenses together. Retro Motors, Inc. Income Statement Year Ended December 31, 2018 Revenue: Sales revenue Expenses: Cost of goods sold Salary expense Income tax expense Depreciation expense Rent expense Net income (loss) Requirement 2. Prepare Retro's balance sheet at December 31, 2018. Retro Motors, Inc. Balance Sheet December 31, 2018 Liabilities Assets Current assets: | Cash Current liabilities: Accounts payable Accounts receivable Salary payable Inventory Total current liabilities Total current assets Stockholders' equity Common stock Property, plant, and equipment: Equipment Retained earnings Less: Accumulated depreciation Total stockholders' equity Total assets Total liabilities and stockholders' equity Requirement 3. Prepare Retro's statement of cash flows for the year ended December 31, 2018. Format cash flows from operating activities using the indirect method. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash. Enter "0" for zero balances.) Retro Motors, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by (used for) operating activities: Net cash provided by (used for) operating activities net cash provided by (used for) operating activities: Net cash provided by (used for) operating activities Cash flows from investing activities: Net cash provided by (used for) investing activities Cash flows from financing activities: Purchase of equipment | Net income Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash balance, December 31, 2017 | Cash balance, December 31, 2018 Choose from any list or enter any number in the input fields and then continue to the next question. Retro Motors, Inc., was formed on January 1, 2018. The following transactions occurred during 2018: (Click the icon to view the transactions.) Read the requirements. net cash provided by (used for) operating activities: Net cash provided by (used for) operating activities Cash flows from investing activities: Net cash provided by (used for) investing activities Cash flows from financing activities: Purchase of equipment | Net income Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash balance, December 31, 2017 Cash balance, December 31, 2018 Choose from any list or enter any number in the input fields and then continue to the next