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Fill in the blanks in the income statement and balance sheet andshow that Cash Flow Identity holds.If the company sold $300 worth of fixed assets, how much fixedassets were sold?Assuming that the company had eitherseasoned equity offering or repurchase, which one did the companyhave?If the company borrowed $55 in 2018,how much of the Long-term debt was paid in 2018?BALANCE SHEET - 2017 & 2018ASSETSLIABILITIES and OWNERS EQUITY2017201820172018Current AssetsCurrent LiabilitiesCash200210Accounts Payable180185A/R300290Notes Payable230195Inventory250300Total Current Liabilities410380Total Current Assets750800Long-Term Debt245……Fixed AssetsFixed Assets500…..Owner's Equity595715Common Stock295335Retained Earnings300380TOTAL ASSETS1250……TOTAL LIABILITIES and OWNERS EQUITY12501350INCOME STATEMENT - 2018Sales4500Cost2950Depreciation300Earnings before Interest and Tax (EBIT)1250Interest350Earnings before Tax (EBT) - Taxable Income…….Tax (30%)…….Net Income…….Dividend…….Add. To Retained Earnings…….