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Prepare a classified balance sheet, multi-step income statement and statment of cash flows for the year ending 12/31/2018.

Additional Information:

A truck was sold for cash proceeds of $8,000. No trucks were purchased during the year. The loss on disposal of the truck is $3,000.

The increase in equipment was due to cash purchases of new equipment.

The decrease in debit is duye to re-payments.

The portion of notes and bonds payable that will become due next year is $10,000. The company has not made a reclassifying entry to show the current portion of debt.

Do not enter EPS.

			Beginning Trial Balance -post close 12/31/17 Ending Balance Trial Balance 12/31/18 Name Debit Credit Debit Credit Cash 280,080 231,994 Accounts Receivable 317,420 393,550 Allowance for Doubtful Accounts 4,580 6,178 Inventory 532,360 535,671 Supplies 2,320 3,680 Goodwill 145,000 139,000 Land 43,000 43,000 Buildings 306,000 306,000 Accumulated Depreciation - Buildings 73,040 78,040 Equipment 32,800 63,900 Accumulated Depreciation - Equipment 13,200 21,200 Trucks 78,400 60,400 Accumulated Depreciation - Trucks 39,540 41,540 Bank Line of Credit 15,000 Accounts Payable 126,850 157,600 Payroll Taxes Payable 11,846 9,448 Income Taxes Payable 5,000 4,000 Interest Payable 23,261 Notes Payable 422,606 417,606 Bonds Payable 269,000 269,000 Common Stock 189,000 189,000 Paid-in capital in Excess of Stated Value 256,400 256,400 Retained Earnings 326,318 326,318 Dividends 50,000 Sales revenue 5,483,396 Sales and Returns and Allowances 14,060 Sales Discounts 115,459 Cost of Goods Sold 4,186,710 Advertising Expense 7,178 Bad Debt Expense 1,120 Supplies Expense 1,540 Freight-out 18,542 Depreciation Expense 22,000 Salaries and Wages Expenses 943,752 Payroll Taxes Expense 83,681 Utilities Expense 16,669 Goodwill Impairement Expense 6,000 Interest Expense 45,081 Loss on Disposal of Truck 3,000 Income Tax Expense 6,000 1,737,380 1,737,380 7,297,987 7,297,987

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