15) Redbird Company uses the indirect method to prepare itsstatement of cash flows. Using the following information, completethe worksheet for the year ended December 31, 2018.

- Net Income for the year ended December 31, 2018 was$49,000

- Depreciation expense for 2018 was $12,000

- During 2018, plant assets with a book value of $10,000 (cost$10,000 and accumulated depreciation $0) were sold for $14,000

- Plant assets were acquired for $52,000 cash

- Issued common stock for $28,000

- Issued long-term notes payable for $34,000

- Repaid long-term notes payable for $40,000

- Purchased treasury stock for 3,000

- Paid dividends of $10,000

                                                                      Redbird Company

                                                  Spreadsheet for Statement of Cash Flows

                                                           Year Ended December 31, 2018

	Balance 12/31/17	Transaction Analysis Debit	Transaction Analysis Credit	Balance 12/31/18
Panel A—Balance Sheet:
Cash	$18,000			$21,000
Accounts Receivable	35,000			31,000
Merchandise Inventory	25,000			53,000
Plant Assets	70,000			112,000
Accumulated Depreciation—Plant Assets	(20,000)			(32,000)
Total Assets	$128,000			$185,000
Accounts Payable	6,000			4,000
Accrued Liabilities	1,000			2,000
Long-term Notes Payable	50,000			44,000
Common Stock	2,000			30,000
Retained Earnings	74,000			113,000
Treasury Stock	(5,000)			(8,000)
Total Liabilities and Stockholders' Equity	$128,000			$185,000