The Blue Rascal Corporation Income Statement 12/31/2018 2018 Sales $ 492,000 Operating Expenses (excluding Depreciation) Depreciation Expense 269,000 21,000 290,000 Income from Operations 202,000 Income Tax Expense 68,000 Net Income 134,000 Other information: 1. In 2018, The Blue Rascal Corporation paid a cash dividend of $18,000 2. The corporation obtained $150,000 cash through the issuance of long term bonds. 3. Land, building and equipment were acquired for cash. The Blue Rascal Corporation Balance Sheet December 31, 2017 and 2018 Assets 2017 Cash Accounts Receivable Prepaid Expenses 2018 49,000 36,000 - Increase Decrease 37,000 26,000 6,000 (12,000) (10,000) 6,000 Land Building Accumulated Depreciation - Building - 70,000 200,000 (11,000) 70,000 200,000 (11,000) Equipment Accumulated Depreciation - Equipment - 68,000 (10,000) 68,000 (10,000) 85,000 386,000 301,000 Accounts Payable Bonds Payable 5,000 - 40,000 150,000 35,000 150,000 Common Stock Retained Earnings 60,000 20,000 60,000 136,000 116,000 85,000 386,000 301,000 Total Assets' Liabilities and Stockholder's Equity Total Liabilities and Stockholder's Equity The Blue Rascal Corporation Statement of Cash Flows 12/31/2018 Cash Flows from Operating Activities: Net Income $ Adjustments to reconcile net income to net cash provided by operating activities. Net Cash Flows from Operating Activities $ Cash Flows from Investing Activities: $ Cash Flows from Financing Activities $ Net Increase (Decrease) in Cash Cash @ 01/01/18 Cash @ 12/31/18