only need to prepare the direct method for only the operating section

3:00:00 Time Left:1:14:27 Joseph Robinson: Attempt 1 Bee, Carp Balance Sheet December 31, 2019 and 2018 2019 2018 $ 800.000 Assets $ 67,800 110,000 170,500 32,400 258,000 (58,300) S 580,400 Accorceable, niet laventory Prepaid expenses Equat Accumulated depreciation - Equipment Total assets $ 56.900 122,600 180,000 6,000 203,950 (49.600) $519,850 Blooms Corp Income Statement December 31, 2019 Sales Less Cost of goods sold $415,000 Depreciation expense 55,000 Other operating expenses 112,000 Interest expense 4.000 Los on sale of equipment 21.500 Income tax expense 58.750 Net income 10,900 (12,600) 09.500) 26.400 $4,050 8,700 666,250 $ 133, 750 N Liabilities and Equity Accounts payable Wages payable Income taxes payable Didenda payable Note payable (long-term Common stock, S1 par value Pand-in-capital in excess of par, common Retained earnings Total liabilities and stockholders' equity $ 110,100 15,800 25.000 12.000 41,300 67,200 264.000 45,000 $ 580,400 > $114.200 20,550 22,300 15.000 26,000 60,000 254,400 7.400 $519,850 (4.100) (4,750) 2,700 (3.000) 15,300 Additional information: a) The change in the note payable account resulted from the borrowing of additional cash b) New equipment is acquired for $200,000 cash c) Equipment is sold for cash d) Accounts payable relates to inventory e) The changes in the stock accounts result from 7,200 9,600 37.600 Provided once again for your convenience, you will find the same fact set that you used on the previous page (page 9; problem 20). For this problem, prepare the OPERATING SECTION ONLY, using the direct method