Based on this information alone, determine the following for holloway company. (hint: record the events in general ledger accounts under an accounting equation before satisfying the requirements.) the balance of the accounts receivable that would be reported on the december 31, 2018, balance sheet. the amount of net income that would be reported on the 2018 income statement. the amount of net cash flow from operating activities that would be reported on the 2018 statement of cash flows. the amount of retained earnings that would be reported on the 2018 balance sheet.

Vortex company operates a retail store with two departments. information about those departments follows. department a department b sales $ 800,000 $ 450,000 cost of goods sold 497,000 291,000 direct expenses salaries 125,000 88,000 insurance 20,000 10,000 utilities 24,000 14,000 depreciation 21,000 12,000 maintenance 7,000 5,000 the company also incurred the following indirect costs. salaries $36,000 insurance 6,000 depreciation 15,000 office expenses 50,000 indirect costs are allocated as follows: salaries on the basis of sales; insurance and depreciation on the basis of square footage; and office expenses on the basis of number of employees. additional information about the departments follows. department square footage number of employees a 28,000 75 b 12,000 50 required: 1. determine the departmental contribution to overhead and the departmental net income for department a and department b.