the extra surplus companys balance sheet for December 31, 2017 and the income statement for 2018 are shown below.

A. Prepare a balance sheet at December 31,2018

B. Prepare the statement of cash flows using the DIRECT method

The Extra Surplus company's Balance sheet for December 31, 2017 and the income Statement for 2018 are shown below. Extra Surplus company Balance Sheet December 31, 2017 Assets Cash Accounts Receivable Inventory Property and Equipment, Met $14,000 7,800 16,800 20.000 $65,800 Liabilities and Stockholders' Equity Accounts Payable Notes Payable, Long-Ters Common Stock Retained Earnings $14,000 7,000 28,eee 16,809 $65,800 Extra Surplus Company Income Statement For the Year Ended December 31, 2018 Sales $23,400 Cost of Goods Sold 5,400 Salaries and wage Expense S, 480 Interest Expense 1,800 Other Expenses Net Income $9.900 Additional data Sales were $23,400, 514,400 in cash was received from customers Bought new land for cash, $18.000 Sold other and for its book value of $9.000 Paid $1 800 principal on the long-term note payable and $1,800 in interest - Issued new shares of stock for $18,000 cash. Cash dividends of $2600 were declared and paid to stockholders Paid $10,300 on accounts payable. - No Inventory purchases were made other expenses were incurred on account Al wages were paid in cash Other expenses were on account Pr o f . Next > Complete this question by entering your answers in the tabs below. Required A Required B Prepare a balance sheet at December 31, 2018 EXTRA SURPLUS COMPANY Balance Sheet at December 31 2018 Cash Accounts Receivable Anventory Property and Equipment Accounts Payable Notes Payable (long-term) Common Stock Retained Earnings Required B > Complete this question by entering your answers in the tabs below. Required A Required B Prepare the statement of cash flows using the direct method. (Enter any deductions and cash outflows as a negative value.) EXTRA SURPLUS COMPANY Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: Cash Flows from Investing Activities: Cash Flows from Financing Activities: 1,500 14,000 15,500