Sage Inc. experienced the following transactions for 2018, its first year of operations:

1. Issued common stock for $110,000 cash.
2. Purchased $205,000 of merchandise on account.
3. Sold merchandise that cost $164,000 for $326,000 on account.
4. Collected $292,000 cash from accounts receivable.
5. Paid $185,000 on accounts payable.
6. Paid $54,000 of salaries expense for the year.
7. Paid other operating expenses of $70,000.
8. Sage adjusted the accounts using the following information from an accounts receivable aging schedule:

Number of Days Past Due	Amount			Percent Likely to Be Uncollectible	Allowance Balance
Current	$	20,400		0.01
030		8,500		0.05
3160		1,700		0.10
6190		1,700		0.20
Over 90 days		1,700		0.50

b. Prepare the income statement, statement of changes in stockholders equity, balance sheet, and statement of cash flows for Sage Inc. for 2018.

SAGE INC.
Balance Sheet
As of the End of the Year 2018
Assets
not attempted		not attempted
not attempted	not attempted
not attempted	not attempted	0
not attempted		not attempted
Total assets		$0
Liabilities
not attempted	not attempted
not attempted	not attempted
Total liabilities		0
Stockholders equity
not attempted	not attempted
not attempted	not attempted
not attempted	not attempted
Total stockholders equity		0
Total liabilities and stockholders equity		$0

SAGE INC.
Statement of Cash Flows
For the Year Ended 2018
Cash flows from operating activities:
not attempted	not attempted
not attempted	not attempted
not attempted	not attempted
not attempted	not attempted
Net cash flow from operating activities		$0
Cash flows from investing activities		not attempted
Cash flows from financing activities
not attempted	not attempted
not attempted	not attempted
Net cash flows from financing activities		0
Net change in cash		0
not attempted		not attempted
Ending cash balance		$0

3. What is the net realizable value of the accounts receivable at December 31, 2018?

Net realizable value