Question

problem

the following events apply to sam's restaurant for the yearended Dec 31,2016 it's the first year of operation

1- The company acquired 50,000 cash by common stock

2- purchased new cook top that cost 35,000 cash

3- earned 36,000 in cash revenue

4- paid 12,000 cash for salary expense

5- recorded depreciation expense on the cook top for 2016 usingstraight-line depreciation. the cook top was purchased on January1,2016, the expected useful life of it is four years, and theestimated salvage value is 3,000

STEP1; recored the jurnal entery format and post alltransications to T-account

STEP2; prepare a balance sheet and a statment of cash flow forthe acoount period

STEP3; answer the following questions

q1- what is the net income ?

q2- what is sthe amount depreciation expense would the resturantreport on 2017 income statment

q3- what amount of accumulated depreciation would sam report inDec31 , 2017, balance sheet

q4- would the cash flow from operating activities be affected bydepreciation in 2017

Please i need help with my homework

Thank you