(Click the icon to view the comparative balance sheet.) Click the icon to view the income state OR N re Data table BI R 2 Stephen Supply Corp. Comparative Balance Sheets December 31, 2018 2017 Increase (Decrease) $ 14 000 $ 50.000 Current assets Cash and cash equivalents Accounts receivable Inventories Prepaid expenses Plant assets 17 600 $ 46,700 58.600 2.000 3.600 (3.300) 1.200 900 57.400 1.100 12 Land 61.700 53,500 21.500 49.700 40,200 3.800 Equipment, nel Announ $ 240,100 $ 193.700 $ 46.400 Past Du $ 27.800 $ 35 400 $ 23,000 Current Total assets Current liabilities Accounts payable Salary payable Other acerood liabilities Long term Mabilition Notes payable Stockholders equity Common stock, no par Retained earnings 30,600 23.900 7.600 7.600) (900) 23.000 TODAY 58,000 31.000 27.000 Complet 88,100 12,600 240.100.5 65.900 14,500 22 200 (1.900) 46,400 $ 193.700 3 This cour The 2018 and 2017 comparative balance sheets and 2018 income statement of Stephen Supply C 2 (Click the icon to view the comparative balance sheet.) (Click the icon to view the in Stephen Supply had no noncash investing and financing transactions during 2018. During the year, retirements of stock, and no treasury stock transactions. Read the - X Data table Requirer statem Start by a subtracte Stephen Supply Corp. Income Statement Year Ended December 31, 2018 Revenues Cash $ 445,000 Red $ Sales revenue Expenses Cost of goods sold Salary expense Depreciation expense Other operating expense Interest expense 185,800 76,800 Pay 14,300 noun 50,500 24.100 29 200 Income tax expense st Dud Total expenses 380.700 BC Net income S 64.300 urrent Cash TODAY Print Done Complet Cash Requirement 1. Prepare the company's 2018 statement of cash flows using the direct method A Start by completing the cash flows from operating activities. Then completo each section of the statement of cant fous. (Use paranduses or a minun sign for murders to be subtracted and for a net decrease in cash) Stephen Supply Corp Statement of Cash Flows (Direct Method) Year Ended December 31, 2018 Cash flows from operating activities: Receipts 2 Payments noun ast Du Total cash payments Net cash provided by used for operating activities Cash flows from investing activities! Current TODAY Complet Net cash provided by used for) investing activities Cash flows from financing activities Next TL: 033000 Cash flows from financing activities: Net cash provided by used for financing activities Not increase (decrease) In cash Requirement 2. How will what you leared in this problem help you evakuate an Investment? OA Learn how operating activities, investing activities, and financing activities generate cash receipts and cash payments O B. Learn how companies prepare the statement of cash flows in order to understand the meaning of cash flow from the three basic categories of business activities OC. Both A and B D. None of the above