tion: 1 pt 6 of 6 (6 complete) This Test: 6 i Requirements - X More Info - X serve Rare ne icon to view 1. 2. mt 1. What is What is the purpose of the statement of cash flows? Prepare NRRC's income statement for the year ended December 31, 2018 Use the single-stop format with all revenues listed together and a expenses listed together. Prepare NRRC s balance sheet at December 31, 2018 Prepare NRRC's statement of cash flows using the indirect method for the year ended December 31, 2018. of the states nt 2. Prepare 3. On January 1, 2018, NRRC issued no par common stock for 5525,000 b. Early in January, NRRC made the following cash payments 1. For store fixtures, 551,000 2. For merchandise inventory, 5270,000 3. For rent expense on a store building. 519.000 C. Later in the year, NRRC purchased merchandise inventory on account for $235.000 Before year and, NRRC paid $145,000 of this accounts payable. d. During 2018 NARC sold 2.500 units of merchandise inventory for $3775 each Before year-end, the company collected 80% of this amount Cost of goods sold for the year was $10,000, and ending merchandise inventory totaled $195,000 e. The store employs three people. The combined annual payroll is 597000, of which NERC s owes $5,000 at year end f. At the end of the year. NRRC paid income tax of $22.000 There are no income taxes payable g. Late in 2018 NRRC paid cash dividends of SIG.000 h. For store fxtures, NRRC uses the straight-line depreciation method over five years with zero residual value Print Done Year Ended December 31, 2013 Punt Done many to enter any number in the fields and then continue to the next