The James Island Clothing Company began operations on July 1, 2018. The adjusted trial balance as of December 31, 2018, appears below, along with transaction data for 2018. JAMES 1SLAND CLOTHING COMPANY Adjusted Trial Balance 12/31/18 Account Title Balance Debit Credit 595,700 Inventory Office Equipment 4,400 26,000 18,000 Accumulated Depreciation-Plant Assets Accounts Payable Note Payable-Short Term Note Payable-Long Term Common Stock Retained Earnings 5,000 10,000 33,000 100,000 Sales Revenue Cost of Goods Sold Rent Expense Advertising Expense Depreciation Expense 15,000 2,000 $169,500 169,500 Transaction data for 2018 Cash paid for purchase of office equipment Cash paid for purchase of truck Acquisition of plant assets with a long-term notes payable Cash payment of dividends Cash receipt from issuance of common stock 5,000 33,000 100,000 Use the blue shaded areas on the ENTER-ANSWERS tab for inputs. ALWAYS use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong. Use a minus sign or parentheses for any cash outflows or amounts to be subtracted. Requirements: Possible Points 1 Complete the worksheet for the James Island Clothing Company, filling in the Transaction Analysis columns. Note: Some of the input cells marked in blue may not require entries. 2 Prepare the James Island Clothing Company statement of cash flows for the year ended December 31, 2018. Use the indirect method. Note: Some of the input cells marked in blue may not require entries. Complete the worksheet for the James Island Clothing Company, filling in the transaction analysis columns. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) Note: Some of the input cells marked in blue may not require entries. Leave the input cells blank that do not require an entry Spreadsheet for Statement of Cash Flows Balance Balance 12/31/18 Panel A-Balance Sheet Transaction Analysis Debit Credit Cash Accounts Receivable nventory Office Equipment Truck Accumulated Depreciation-Plant Assets Total Assets Accounts Payable Note Payable -Short Term Note Payable Long Term Total Liabilities Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 100,000 100,000 Panel B Statement of Cash Flows Cash Flows from Operating Activities Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Depreciation Expense Plant Assets Increase in Accounts Receivable Increase in Inventory Increase in Accounts Payable Increase in Notes Payable-Short-term Net Cash Provided by Operating Activities Cash Flows from Investing Activities Cash Paid for Acquisition of Plant Assets Net Cash Used for Investing Activities Cash Flows from Financing Activities Cash Receipt from Issuance of Common Stock Cash Payment of Dividends Net Cash Provided by Financing Activities Net Increase (Decrease) in Cash Total Prepare the James Island Clothing Company statement of cash flows for the year months ended December 31, 2018. Use the indirect method Format cash flows from operating activities by the indirect method. Leave cells blank if not used. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) Note: Some of the input cells marked in blue may not require entries