Comparative Balance Sheet December 31, 2018 and 2017 Increase (Decrease) 2018 2017 Current Assets: 5,300 $ 6,500 $ Cash and cash equivalents (1,200) 26,500 Accounts receivable 25,100 (1,400) Inventory 91,500 89,700 1,800 Fixed Assets: 28,600 Land 89,700 61,100 54,700 49,000 5,700 Equipment, net 266,300 $ 232,800 $ $ 33,500 Total Assets Current Liabilities: 30,900 $ 35,100 $ (4,200) Accounts payable 30,600 Accrued liabilities 28,400 2,200 Long-Term Liabilities: 73,000 Notes payable 99,000 (26,000) Stockholders' Equity 64,600 Common stock 88,500 23,900 43,300 5,700 37,600 Retained earnings $ 266,300 $ 232,800 $ 33,500 Total Liabilities and Stockholders' Equity Income Statement Year Ended December 31, 2018 Revenues: $ 216,000 Sales revenue 8,300 Interest revenue 224,300 Total revenues Expenses: $ 71,000 Cost of goods sold Salaries expense 27,300 4,700 Depreciation expense Other operating expenses 10,200 11,900 Interest expense 29,800 Income tax expense 154,900 Total expenses 69,400 Net Income Linderman Garden Supply, Inc. Statement of Cash Flows Year Ended December 31, 2018 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense Decrease in accounts payable Increase in inventory Decrease in accounts payable Increase in accrued liabilities Net cash provided by (used for) operating activities