Prepare rent och for the indeed method. The contentor 2017 and the bence shoes for 2017 und 2015 werd er Hut , Click to on la view the comment miche con i ve che icon to view con Womation Requirement Prowe statement el cash rows for alles, we foc unded December 31, 2017. u inte att Preps the statement on to the per Helene Statement of Cashethre Muth For the Year Ended December 31, 2017 Operating Activities Anisto reconhece och www Hall Industries, Inc. Income Statement For the Year Ended December 31, 2017 Sales revenues $ 960,000 379,000 $ 581,000 Less: Cost of goods sold Gross profit Less operating expenses: Salaries and wages expense $ $ 195,000 Insurance expense Depreciation expense 10,000 50,100 82,000 Other operating expenses 337.100 Total operating expenses Operating income Plus other income and less other expenses: $ 243,900 Interest expense $ $ 5,200 3,000 Gain on sale of PP&E 2,200 Total other income and expenses Income before income taxes $ 241,700 For the Year Ended December 31, 2017 Sales revenues $ 960,000 379,000 $ 581,000 Less: Cost of goods sold Gross profit Less operating expenses: Salaries and wages expense $ 195,000 10,000 Insurance expense Depreciation expense 50, 100 82,000 Other operating expenses 337.100 $ 243,900 Total operating expenses Operating income Plus other income and less other expenses. S Interest expense 5.200 3,000 Gain on sale of PP&E 2 200 Total other income and expenses Income before income taxes $ 241.700 72,510 Less. Income tax expense $ 169, 190 Net income Hall Industries, Inc. Comparative Balance Sheets December 31, 2017 and 2016 Assets 2017 2016 Current assets: 285,000 Cash 123,000 Accounts receivable 478,000 $ 77,000 333,000 8,000 Inventory 214,000 3,500 Prepaid insurance S 896,000 $ 625,500 Total current assets S 615.000 $ Property, plant, and equipment Less: Accumulated depreciation (157,000) 90,000 600,000 (116,000) 76.000 Investments S 1,444,000 $ 1,185,500 Total assets Liabilities Current liabilities: Liabilities $ 53,000 $ 39,000 16,500 17,400 Current liabilities: Accounts payable inventory purchases) Wages payable Interest payable Income taxes payable 1,400 500 63,510 6,800 12,500 3,700 Other accrued expenses payable $ 141,210 $ 73,100 Total current liablities 66,000 24,000 Long-term liabilities Total liabilities $ 207,210 $ 97,100 Stockholders' equity Common stock 608,000 $ 628,790 608,000 480,400 Retained earnings $ 1,236,790 S 1,088,400 Total stockholders' equity s 1,444,000 $ 1,185,500 Total liabilities and equity Additional information Additional information follows: a. Sold plant asset for $4,600. The original cost of this plant asset was $10,700 and it had $9,100 of accumulated depreciation associated with it. b. Paid $7,000 on the bonds payable; issued $49,000 of new bonds payable. c. Declared and paid cash dividends of $20,800. d. Purchased new investment for $14,000. Paid cash e. Purchased new equipment for $25,700. Paid cash