PROBLEM 1: PARTIAL OPERATING SECTION PROBLEM 1 CORPORATION Income Statement For the year ending December 31, 2019 Net Sales 225,000 USE THE STATEMENTS AND INFORMATION PROVIDED TO COMPLETE THE OPERATING SECTION OF THE CASH FLOW STATEMENT FOR PUZZLE PIECES CORP. Operating Expenses General & Admin expenses Amortization expense Depreciation expense 45,000 2,000 18,000 65,000 160,000 Income from Operations Other expenses Loss on sale of equipment Income tax expense Total other expenses 5,000 5,000 10.000 Net Income 150,000 Partial Balance Sheet Information: 12/31/18 125,000 50,000 Cash Accounts Receivable Building Accounts Payable Unearned Revenue Loans Payable 12/31/19 175,000 25,000 200,000 40,000 50,000 300,000 20,000 100,000 Treasury Stock Retained Earnings (150,000) 340,000 (50,000) 200,000 PROBLEM 1 - PARTIAL CASH FLOW (OPERATING SECTION) USE THE INCOME STATEMENT AND ADDITIONAL INFO PROVIDED TO COMPLETE THE OPERATING SECTION OF STMT OF CF FOR PUZZLE PIECES INC" TACCOUNT ON NEXT TAB ARE OPTIONAL, BUT HELPFUL PROBLEM 1 CORPORATION Statement of Cash Flows For the year ending December 31, 2019 Cash flows from operating activities Adjustments to reconcile Net Income to cash flows from operations non cash income and expenses Net cash operating activties YOU ONLY NEED TO COMPLETE THE OPERATING SECTION FOR THIS PROBLEM PROBLEM 1 CORPORATION TACCOUNTS HHHH HHHH