Stanley and Jones Lawn Service Company (S&J) malntalns Its books on a cash basls. However, the company recently borrowed $190,000 from a local bank and the bank requires S&J to provide annual financlal statements prepared on an accrual basls, During 2018, the following cash flows were recorded: Cash collected from customer: $410, 000 Cash paid for: $189,000 34,000 18,000 B,000 Rent 29,000 278,000 $132,000 Net operating cash flos You are able to determine the following Information about accounts receivable, prepald expenses, and accrued llabilties: Jaruaty 1, 2018 December 31, 2018 Accounts receivable $30,000 $26,000 2, 900 3,000 1, 900 Accrued liabilities for niscellaneous expenses) 3, 300 4, 600 In addition, you learn that the bank loan was dated September 30, 2018, with principal and Interest at 6% due in one year. Depreclation on the company's equipment is $19,000 for the year. Required: Prepare an accrual basls Income statement for 2018. (Ignore Income taxes.) STANLEY AND JONES LAWN SERVICE COMPANY Income Statement For the Year Ended r 31, 2018