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, Net $ 19,000 9,500 22,800 38,000 $89, 300 Liabilities and Stockholders' Equity Accounts Payable Notes Payable, Long-Term Common Stock Retained Earnings $ 19,000 9,500 38,000 22,800 $ 89,300 Extra Surplus Company Income Statement For the Year Ended December 31, 2018 Sales $36,400 Cost of Goods Sold 8,400 Salaries and Wage Expense 8,400 Interest Expense 2,800 Other Expenses 1,400 Net Income $ 15,400 Additional data: Sales were $36,400; $22,400 in cash was received from customers. Bought new land for cash, $28,000. Sold other land for its book value of $14,000. Paid $2,800 principal on the long-term note payable and $2,800 in interest. Issued new shares of stock for $28,000 cash. Additional data: Sales were $36,400; $22,400 in cash was received from customers. Bought new land for cash, $28,000. Sold other land for its book value of $14,000. Paid $2,800 principal on the long-term note payable and $2,800 in interest. Issued new shares of stock for $28,000 cash. Cash dividends of $4,600 were declared and paid to stockholders. Paid $16,300 on accounts payable. No inventory purchases were made; other expenses were incurred on account. All wages were paid in cash. Other expenses were on account. Required: a. Prepare a balance sheet at December 31, 2018. b. Prepare the statement of cash flows using the direct method. 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 Required: a. Prepare a balance sheet at December 31, 2018. b. Prepare the statement of cash flows using the direct method. 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 $ 0 $ 0 Required A Required B > 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: 0 Cash Flows from Investing Activities: 0 Cash Flows from Financing Activities: 0 1,500 19,000 20,500 $