Sweet 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 Sweets income statement for the year ended December 31, 2018. Use the single-step format, with all revenues listed together and all expenses together Sweet Motors, Inc. Income Statement Year Ended December 31, 2018 Revenue Expenses Requirement 2. Prepare Sweefs balance sheet at December 31, 2018 Sweet Motors, Inc. Balance Sheet December 31, 2018 Assets Liabilities Current assets Current Eabilities Choose trom any list or enter any number in the input flelds and then continue to the next question. Swoet Motors, Inc., was formed on January 1, 2018. The following transactions occurred during 2018 (Click the icon to view the transactions.) Read the requirements Stockholders' equity Property, plant, and equipment Less: Requirement 3. Prepare Sweefs statement of cash flows for the year ended December 31, 2018. Format cash flows from operating ac ities using the indired method. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash. Enter "0" for zero balances.) Sweet 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 Cash flows from investing activities: Choose from any list or enter any number in the input fields and then continue to the next question Sweet Motors, Inc., was formed on January 1, 2018. The following transactions occurred during 2018 i(Click the icon to view the transactions.) Read the requirements Requmement3nepale sweetsSateecuI CasnOwS 10rne yearengea DecIOU S12010 rumaC casnowsHUm operaUng acuvues usIng re method (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash. Enter "0" for zero balances) Sweet 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 Cash flows from investing activities: Net cash provided by (used for) investing activities Cash flows from financing activities: Net cash provided by (used for) financing activities Net increase (decrease) in cash Choose from any list or enter any riumber in the input fields and then continue to the next questin nc.. was formed on January 1 2018 The followina transactions occured durina 2018: Con to view the trans iRequirements ements O.Prepare sweers s parentheses or a min ng acuviues using u es.) Prepare Sweet's income statement for the year ended December 31, 2018. Use the single-step format, with all revenues listed together and all expenses together Prepare Sweet's balance sheet at December 31, 2018 1. Stateme 2. Ye 3. Prepare Sweet's statement of cash flows for the year ended December 31, 2018. Format cash flows from operating activities using the indirect method. from operating acti ents to reconcile net X More Info h provided by (used On January 1, 2018, Sweet issued its common stock for $280,000. Early in January, Sweet made the following cash payments: a. $120,000 for equipment b. $136,000 for inventory (four cars at $34,000 each) c. $23,000 for 2018 rent on a store building In February, Sweet purchased nine cars for inventory on account. The cost of this inventory was $414,000 ($46,000 per car). Before year-end, the company paid off $248,400 of this debt. The company uses the first-in, first-out (FIFO) method to account for its inventory During 2018, Sweet sold seven autos for a total of $490,000. Before year-end, it had collected 90% of this amount. Net cash provided by ws from investing ac Net cash provided by The business employs four people. The combined annual payroll is $100,000, of which Sweet owes $2,000 at year-end. At the end of the year, the company paid income taxes of $15,000 Late in 2018, Sweet declared and paid cash dividends of $16,000 For equipment, Sweet uses the straight-line depreciation method, over five years, with zero residual value. wws from financing ac Net cash provided by rease (decrease) in ca Print Done rom any list or enter any number in the input fields and then continue to the next question. Sweet 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 Sweets income statement for the year ended December 31, 2018. Use the single-step format, with all revenues listed together and all expenses together Sweet Motors, Inc. Income Statement Year Ended December 31, 2018 Revenue Expenses Requirement 2. Prepare Sweefs balance sheet at December 31, 2018 Sweet Motors, Inc. Balance Sheet December 31, 2018 Assets Liabilities Current assets Current Eabilities Choose trom any list or enter any number in the input flelds and then continue to the next question. Swoet Motors, Inc., was formed on January 1, 2018. The following transactions occurred during 2018 (Click the icon to view the transactions.) Read the requirements Stockholders' equity Property, plant, and equipment Less: Requirement 3. Prepare Sweefs statement of cash flows for the year ended December 31, 2018. Format cash flows from operating ac ities using the indired method. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash. Enter "0" for zero balances.) Sweet 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 Cash flows from investing activities: Choose from any list or enter any number in the input fields and then continue to the next question Sweet Motors, Inc., was formed on January 1, 2018. The following transactions occurred during 2018 i(Click the icon to view the transactions.) Read the requirements Requmement3nepale sweetsSateecuI CasnOwS 10rne yearengea DecIOU S12010 rumaC casnowsHUm operaUng acuvues usIng re method (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash. Enter "0" for zero balances) Sweet 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 Cash flows from investing activities: Net cash provided by (used for) investing activities Cash flows from financing activities: Net cash provided by (used for) financing activities Net increase (decrease) in cash Choose from any list or enter any riumber in the input fields and then continue to the next questin nc.. was formed on January 1 2018 The followina transactions occured durina 2018: Con to view the trans iRequirements ements O.Prepare sweers s parentheses or a min ng acuviues using u es.) Prepare Sweet's income statement for the year ended December 31, 2018. Use the single-step format, with all revenues listed together and all expenses together Prepare Sweet's balance sheet at December 31, 2018 1. Stateme 2. Ye 3. Prepare Sweet's statement of cash flows for the year ended December 31, 2018. Format cash flows from operating activities using the indirect method. from operating acti ents to reconcile net X More Info h provided by (used On January 1, 2018, Sweet issued its common stock for $280,000. Early in January, Sweet made the following cash payments: a. $120,000 for equipment b. $136,000 for inventory (four cars at $34,000 each) c. $23,000 for 2018 rent on a store building In February, Sweet purchased nine cars for inventory on account. The cost of this inventory was $414,000 ($46,000 per car). Before year-end, the company paid off $248,400 of this debt. The company uses the first-in, first-out (FIFO) method to account for its inventory During 2018, Sweet sold seven autos for a total of $490,000. Before year-end, it had collected 90% of this amount. Net cash provided by ws from investing ac Net cash provided by The business employs four people. The combined annual payroll is $100,000, of which Sweet owes $2,000 at year-end. At the end of the year, the company paid income taxes of $15,000 Late in 2018, Sweet declared and paid cash dividends of $16,000 For equipment, Sweet uses the straight-line depreciation method, over five years, with zero residual value. wws from financing ac Net cash provided by rease (decrease) in ca Print Done rom any list or enter any number in the input fields and then continue to the next