The following table is a simplified balance sheet of Lancia Company for the year ended December 31, 2018 and the preceding year. Use the provided data to prepare a complete statement of cash flow (Please use the provided spreadsheet). For cash flow from operating activities, please use the indirect method. Assume that equipment costing $125,000 was cash purchase and the land was sold for $15,000 of cash. The stock was issued for cash and only entries in the retained earnings account were net income of $56,000 and cash dividends declared and paid of $18,000. The balance of cash at the beginning of 2018 is $55,000.

Simplified Balance Sheets

Accounts	2018	2017
Accounts Receivable	77,000	85,000
Inventories	96,500	90,000
Land	0	12,000
Equipment	495,000	370,000
Accumulated Depreciation	(205,000)	(157,000)
Accounts Payable	50,500	55,000
Common Stock	200,000	166,000

Please provide calculations for all numbers not given in question.

A B Nm in ooo o Statement of Cash Flows 2 Branch Company 3 For the Year Ended December 31, 2018 4 5 Cash Flows for Operating Activities: 6 Net income 7 Items to reconcile net income to cash flows for operating activities: 8 9 10 11 12 13 Net cash flows for operating activities 14 15 Cash Flows for Investing Activities: 16 17 18 Net cash flows for investing activities 19 20 Cash Flows for Financing Activities: 21 22 23 Net cash flows for financing activities 24 25 Net Increase in Cash 26 Cash balance - January 1 27 Cash balance - December 31 28