The Following Information Is Available for Skate and Boards Rental

Essay

The following information is available for Skate and Boards Rental Company.
$\begin{array}{|l|r|}\hline \text { Assets at December } 31,2014 & \$ 152,000 \\\hline 2014 \text { cash inflows from operating activities } & 105,000 \\\hline 2014 \text { cash outflows from financing activities } & (44,000) \\\hline 2014 \text { cash outflows from investing activities } & (84,000) \\\hline 2014 \text { expenses } & (43,000) \\\hline \text { Retained earnings at December } 31,2013 & 50,000 \\\hline \text { Liabilities at December } 31,2014 & 28,000 \\\hline \text { Common stock at December } 31,2014 & 12,000 \\\hline 2014 \text { revenues } & 135,000 \\\hline 2014 \text { dividends } & (30,000)\\\hline \end{array}$
Using the above information prepare an income statement,statement of retained earnings and statement of cash flows for the Skate and Boards Rental for 2014.Also,prepare its balance sheet as of December 31,2014.Assume that the 12/31/13 cash balance is $70,000.