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You are hired as a new staff accountant for Chalky Co., a reputable chalkboard company, that specializes in selling and installing chalkboards. Your task is

You are hired as a new staff accountant for Chalky Co., a reputable chalkboard company, that specializes in selling and installing chalkboards. Your task is to prepare the financial statements for December 31, 2018 1. An audit of their supply inventory showed that $5,000 were used. 2. Previously Chalky Co. had purchased office furniture. The office furniture was purchased for $32,000. Chalky Co. expects the furniture to last 10 years and value $0 at the end of its useful life. 1 year of depreciation needs to be recorded 3. An insurance policy was purchased for $8,000. 6 months of it was used 4. Star Company paid for 50 chalkboards to be installed at $50 each last month. The chalkboards were installed in December. 5. Chalky Co. provided installation service to Peeps and Company for $8,000 on account. 6. Happy Cleaners provided cleaning services to Chalky Co. during December. An invoice was received for the amount of $1,200 due in 30 days. 7. Chalky Co. conducted a physical count of their inventory. The value of current inventory was $9,000.00 8. Based on previous experience, Chalky Co. estimates that 1% of its accounts receivable balance will go uncollected. 9. Chalky Co. aquired BD Company in 2017 for $175,000. At the time of acquisition, BD Company had net assets of $115,000. The current value of BD Company is $130,000 (in 2018). 10. Chalky Co. offers warranty on the services it provides. Based on the companies past experience they estimate warranty expense to be $4,500. 11. Chalky Co. is wanting to expand its operations and needs additional funding. As a result, they decide to sell an additional 15,000 shares at a market price of $20. The par value of the stock is $1 12. Chalky Co. purchased 1,000 of its own shares at the market price of $25.00

Chalky Co. Unadjusted Trial Balance December 31, 2018 Account Title Balance Debit Credit Cash $ 32,000 Inventory $ 15,000 Accounts Receivable $ 22,000 Office Supplies $ 5,500 Prepaid Insurance $ 8,000 Office Furniture $ 32,000 Accumulated Depreciation - Office Furniture $ - Land $ 25,000 Goodwill $ 60,000 Accounts Payable $ 20,000 Utilities Payable $ 800 Rent Payable $ 2,500 Unearned Revenue $ 45,000 Common Stock $ 120,000 Dividends $ 5,000 Sales or Service Revenue $ 45,000 Cost of Goods Sold $ 23,000 Salaries Expenses $ 5,500 Rent Expense $ - Utilities Expense $ 300 Total $ 233,300 $ 233,300

1) what is the total debit balance amount on the adjusted trial balance.

2) What is the total stockholders' equity balance on the balance sheet

3) What is the total liabilities and stockholders Equity balance on the balance sheet

4) cash flow from operating activities

5) cash flow from investing activities

6) cash flow from financing activities

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