will rate! please answe correclty and with using the latters, same format. thank you

Garrett Company reported the following income statement and comparative balance sheets, along with transaction data for 2018 (Click the icon to view the income statement.) (Click the lon to view the balance sheet) (Click the icon to view the transaction data) Requirement 1. Prepare Garrett Company's statement of cash flows (using the indirect method) for the year ended December 31, 2018. Take the foliowing three steps outlined here Stap 1: From the comparative balance sheets, determine the increase in cash and cash equivalents during the year The increase in cash and cash equivalents during the year is $ 34,000 Step 2. Prepare a T-account to show the transaction activity in each long-term balance sheet account. For each plant asset, use a single account, net of accumulated depreciation (for example: Equipment, Net). Begin by posting the beginning balances to the T-accounts. Then, post the ending identified in the listing provided below. (Be sure to select "Bar to open and close the balances for each -account. For accounts with a 50 beginning balance, make sure to select "Bar and on (Click the loon to view the T-account transaction data) Long-Term Investments c. Bonds Payable 10000 42000 6000 33000 45000 45000 45000 Bal Equipment, Net Common Stock Patent, Net Retained Earings Choose from antint ng with transaction data for 2018: Income Statement - X Garrett Company Income Statement Year Ended December 31, 2018 ca Sales revenue pr fo $ 654,000 538,000 balances er "0" on 116,000 Cost of goods sold Gross profit Operating expenses Salary expenses Depreciation expense-equipment Amortization expense-patent $ 49,000 12,000 5,000 3,000 69,000 Rent expense Total operating expenses Income from operations Other items: Loss on sale of equipment Income before income tax 47,000 (7,000) 40,000 12.000 Income tax expense Net Income $ 28,000 ngs Print Done nswer Clear All alance sheets, along with transaction data for 2018: the balance sheet.) Balance Sheet did sh erm n (fo clo 2018 2017 34,000 $ 3,000 14,000 Assets Current: Cash and cash equivalents Accounts receivable Inventories Prepaid expenses Total current assets Equipment, net Long-term investments Garrett Company Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 Liabilities Current: Accounts payable $ 43,000 $ 9,000 Accrued liabilities 21,000 29,000 Income tax payable 41,000 37,000 Total current liabilities 6,000 10,000 Long-term note payable 111,000 85,000 Bonds payable 54,000 50,000 Stockholders' Equity 24,000 17,000 Common stock 34,000 6.000 Retained earnings Less: Treasury stock Total liabilities and $ 223,000 $ 158,000 stockholders' equity 32,000 14,000 14,000 60,000 6,000 52,000 51,000 45,000 42,000 54,000 Patent, net 47,000 (16,000) 17,000 36,000 (13,000) Total assets $ 223,000 $ 158,000 Rel Print Done then click Check Answer, in cash and cash equivalents during the year. ,000 ng-te 0 Transaction Data ciation n and brd the Jalance 99,000 17,000 33,000 Transaction Data for 2018: Purchase of equipment with cash Payment of cash dividends Issuance of common stock to retire bonds payable... Purchase of long-term investment with cash Purchase of treasury stock 10,000 Issuance of long-term note payable to purchase patent Issuance of long-term note payable to borrow cash Issuance of common stock for cash Proceeds from sale of equipment (book value, $83,000) 6,000 27,000 7.000 3,000 76,000 Print Done Retained Earnings nd then click Check Answer Garrett Company reported the following income statement and comparative balance sheets, along with transaction (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) (Click the icon to view the transaction data.) Requirement 1. Prepare Garrett Company's statement of cash flows (using the indirect method) for the year ended Decem Step 1: From the comparative balance sheets, determine the increase in cash and cash equivalents during the year. The increase in cash and cash equivalents during the year is s 34,000 Step 2: Prepare a T-account to show the transaction activity in each long-term balance-sheet account. For each plant asset, use a single account, net of accumulated depreciation (for example: Equipment, Net). Begin by px identified in the listing provided below. (Be sure to select "Bal" to open and close the balances for each t-account. For a (Click the icon to view the T-account transaction data.) Long-Term Investments Bonds Payable 10000 45000 9. 6000 f. 33000 42000 Bal 45000 Bal 45000 a b Equipment, Net C Common Stock d. e. f. 9 h. i. Patent, Net Retained Earnings k. 1. m. Choose from any list or enter any number in the input fields and then click Check Answer. 5 parts remaining ne year ended December 31, 2018. Take the following three steps outlined here. ents during the year. ca - X - npr Steps for balanc er "0" Step 1 From the comparative balance sheets, determine the increase in cash and cash equivalents during the year. Step 2 Prepare a T-account to show the transaction activity in each long-term balance-sheet account. Step 3 Complete the statement of cash flows. From the income statement, take net income, depreciation, amortization, and the loss on sale of equipment to the statement of cash flows. Account for the year-to-year change in each balance sheet account. Print Done mngs answer. Clear All