usiness E1-38 Preparing the statement of cash flows Learning Objective 5 Morning Bean Food Equipment Company had the following transactions for the month ending January 31, 2018. Morning Bean's cash balance on January 1, 2018, $11,800. was Decrease in cash $9,350 Jan. 1 Common stock was issued to stockholders for $5,000 cash. 7 Purchased equipment for $2,400 on account. 14 Paid $19,000 cash for land. 17 Paid cash expenses: employees' salaries, $1,300; office rent, $1,600 23 26 utilities, $450 Paid cash dividends of $500. Earned service revenue for the month, $8,500, receiving cash. Prepare the statement of cash flows of Morning Bean Food Equipment Company for the month ended January 31, 2018. Learning Objecti E1-39 Calculating Return on Assets Alice Appliance Service had net income for the year of $58,500. In addition, the balance sheet reports the following balances: Jan 1, 2018 Dec 31, 2018