Use the following information for Kent's Kart Company to prepare an income statement for 2018 Kent's Kart Company Balance Sheet As of December 31, 2018 Assets 2018 2017 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation 325,000 65,000 65,200 245,000 (35,000) 265,000 95,000 101,000 230,000 (25,800) Total Assets 665,200 665,200 Liabilities and Equity 30,000 10,000 2,500 Accounts Payable Salaries Payable Administrative Expenses Payable Interest Payable Note Payable Equipment Common Stock Retained Earnings 20,000 8,000 1,500 15,000 300,000 319,700 300,000 322,700 Total Liabilities and Equity 665,200 665,200 Kent's Kart Company Statement of Cash Flows For the Year Ending December 31, 2018 Cash flow from operating activities Cash from customers Cash paid for inventory Cash paid for salaries Cash paid for administrative expenses Cash paid for interest 780,000 (499,200) (47,000) (18,000) (2,000) Cash flow from operations 213,800 Cash flow from investing Cash flow from fin Cash paid for dividen ancing ds (153,800) Total Change in Cash 60,000