The following transactions apply to Ozark Sales for 2018: The business was started when the company received $50,000 from the issue of common stock. Purchased equipment inventory of $176,500 on account. Sold equipment for $193,000 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $118,000. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 3 percent of sales. Paid the sales tax to the state agency on $143,000 of the sales. On September 1, 2018, borrowed $20,500 from the local bank. The note had a 5 percent interest rate and matured on March 1, 2019. Paid $5,800 for warranty repairs during the year. Paid operating expenses of $55,000 for the year. Paid $125,300 of accounts payable. Recorded accrued interest on the note issued in transaction no. 6.

A. Record the given transactions in a horizontal statements model like the following one. (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA), and leave the cell blank if there is no effect. Do not round intermediate calculations and round your answers to the nearest whole dollar amounts.)

B.Prepare the income statement, balance sheet, and statement of cash flows for 2018.

C. What is the total amount of current liabilities at December 31, 2018? (Do not round intermediate calculations and round your answer to the nearest whole dollar amount.)