XYZ Core XYZ Coco COMPARATIVE BALANCE SHEET INCOME STATEMENT For the Year Ended December 31, 2018 As of December 31, 2018 and 2017 31.12.2018 $ 30,000 31.12.2017 Cash $ 8,000 Sales revenue $ 2,320,000 Accounts receivable 35,000 25,900 Cost of goods sold (1.496.000) Marketable securities 40,000 Gross profit 824,000 60,000 70,000 84,000 Operating expenses $ 158,400 6,000 24,000 Inventory Prepaid rent Prepaid insurance Supplies 313,400 4,200 1,800 81,000 2,000 1,500 Selline expenses. Administrative expenses Depreciatieo/amortization.exeepse Total operating expenses Operating income Other revenues/expenses 1552.800) Land 250,000 350,000 700,000 271,200 700,000 Building Accumulated depreciation-building (210,000) (175,000) Dividend revenue 4,800 Equipment 1,050,000 800,000 Gaio on sale of Accumulated depreciation equipment (260,000) (224,000) marketable securities 8.000 Patent 90,000 100.000 16,000 Total assets $ 1,821,200 $ 1,742,200 Gain on sale of land Interest expense Income before taxes (103,500) (74,700) Accounts payable $ 64,000 196,500 $ 54,000 10,000 8,000 Income tax expense Taxes payable Wazes payable Short-term potes pavable (78.800) $ 117,700 10,000 6,000 20,000 Net Income Dividends to shareholders To retained eaccines 20,000 140,000 48.600) Long-term notes payable 120,000 $ 69,100 800,000 800,000 Bonds payable Premium on boods. pavable 40,606 51,706 480,000 440,000 Required: Prepare a statement of cash flows for XYZ Corp. for 2018 under the indirect method. (45 pts) Commen Stock Paid-in capital in excess of par Betained earnings 40,000 35,000 246,594 177.494 Total liab, andes $ 1,821,200 $ 1,742,200