You need to build a year end balance sheet for 2019. You have the 2019 income statement and 2019 statement of cash flows. You also have the 2018 end of year balance sheet. Prepare the year end balance sheet for 2019 using the information below. Cosmo, Inc. Income Statement 2019 50,000 12,000 38,000 Cosmo, Inc. Cash Flow Statement 2019 Insert Cells 3,000 2,000 Revenue Cost of Revenue Gross Profit Net Income Depreciation Expense R&D Sales & Marketing G&A Total Operating Expenses 4,000 6,000 2,000 12,000 Change in accounts receivable Change in inventory Change in prepaid expenses Change in other long-term assets Change in accounts payable Change in accrued wages and taxes Cash flow from operating activities (5,000) 3,000 1,000 (3,000) 4,000 (2,000) 18,000 EBIT Interest Expense EBT Taxes Net Income 26,000 2,000 24,000 6,000 18,000 Purchase of plant and equipment Cash flow from investing activities (6,000) (6,000) Decrease in long-term debt Purchase of treasury stock Common dividends Cash flow from financing activities (1,000) (6,000) (4,000) (11,000) Total cash flow 1,000 2018 Cosmo, Inc. Balance Sheet 2019 3,000 4,000 7,000 Cosmo, Inc. Balance Sheet 2018 2019 2,000 5,000 5,000 1,000 13,000 Cash Accounts receivable, net Inventory Prepaid Expenses Total current assets Accounts payable Accrued wages and taxes Total current liabilities Long-term debt Total Liabilities 4,000 11,000 Gross plant and equipment Depreciation Net plant and equipment 12,000 5,000 7,000 Common Stock & APIC Treasury Stock Retained earnings Total Equity Total Liabilities & equity 1,000 (3,000) 14,000 12,000 23,000 Other long-term operating assets Total Assets 3,000 23,000