1. Provide numerical values in the Additional Information section and construct a Statement of Cash Flows for 12/31/2018 from the following information. Make certain to title the Cash Flow document.

Kite Income Statement

For twelve months ended 12/31/18

Sales	$1,083,000
Cost of Goods Sold	585,000
Gross Profit	498,000
Operating Expenses
Depreciation expense	36,600
Other operating expenses	392,850
Income from Operations	68,550
Other gains (losses)
Loss on sale of equipment	(2,100)
Net Income before tax	66,450
Income Tax Expense	9,450
Net Income	$57,000

Kite Comparative Balance Sheet

Assets	12/31/18	12/31/17
Cash	136,500	71,550
Accounts Receivable	74,100	90,750
Merchandise Inventory	454,500	490,200
Prepaid Expenses	17,100	19,200
Equipment	278,250	216,000
Less: Acc. Depreciation	(108,750)	(93,000)
Total Assets	$851,700	$794,700
Liabilities & Equity
Accounts Payable	117,450	123,450
Interest payable	17,250	11,250
Long-term notes payable	112,500	82,500
Common stock ($5 PV)	465,000	450,000
Cont. Cap. in excess of PV, CS	18,000	0
Retained Earnings	121,500	127,500
Total Liabilities & Equity	$851,700	$794,700

Additional Information:

1. Sold equipment with an original cost of $51,000, and accumulated depreciation of $20,850, for $_________cash resulting in a $2,100 loss.
2. Purchased equipment costing $113,250 by paying $______ cash and signing a $75,000 long-term note payable.
3. Paid $________ cash to reduce the long-term notes payable
4. Issued 3,000 shares of common stock for $11 cash per share.
5. Declared and paid cash dividends of $____________.