The following post-closing trial balance was drawn from the accounts of Little Grocery Su (LGS) as of December 31, 2017: Comprehensive single-cycle problem pplier Exercise 5-13 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Accounts Payable Common Stock Retained Earnings 9,000 41,000 2,500 78,000 21,000 50,000 54,500 Transactions for 2018 1. Acquired an additional $20,000 cash from the issue of common stock. 2. Purchased $85,000 of inventory on account. 3. Sold inventory that cost $91,000 for $160,000. Sales were made on account. 4The company wrote off $900 of uncollectible accounts. 5. On September 1, LGS loaned $18,000 to Eden Co. The note had an 8 percent interest rate and s one-year term. 6. Paid $19,000 cash for operating expenses. 7. The company collected $161,000 cash from accounts receivable. 8. A cash payment of $92,000 was paid on accounts payable 9. The company paid a $5,000 cash dividend to the stockholders. 10. Uncollectible accounts are estimated to be 1 percent of sales on account. 11. Recorded the accrued interest at December 31, 2018 (see item 5). Required a. Organiz b. Prepare an income statement, a statement of changes in stockholders ethe transaction dals in accounts under an accounting equation. a statement of cash flows for 2018. equity, a balance sheeir Exercise 5-14 Effect of credit cau