12. (10 points) D's balance sheets as of December 31, 2021 and 2020 are presented below: 2021 $ 40,000 35,000 30.000 150,000 (60.000 $195.000 2020 $ 15,000 50,000 10,000 Cash Accounts receivable Prepaid expenses Property, plant, and equipment - at cost Accumulated depreciation TOTAL ASSETS 115,000 (40.000 $150.000 Accrued wages payable Unearned revenues Dividends payable Long-term debt Common stock Additional paid-in-capital Retained earnings TOTAL LIABILITIES & SE $ 52,500 15,000 2,500 15,000 5,000 25,000 80.000 $195.000 $ 40,000 25,000 0 5,000 5,000 25,000 50.000 $150.000 SELECTED OTHER INFORMATION: During 2021, D reported net income of $40,000 During 2021, D borrowed on a LT basis AND paid back some LT debt. During 2021, D borrowed $20,000. 3. During 2021. D bought and sold some PP&E. A machine D sold during 2021 originally cost D $25,000. D sold the PP&E for $10,000. At the time of the sale, the PP&E had accumulated depreciation of $7,000 During 2021, D declared four quarterly dividends 2021 was the first year in which D declared dividends. During 2021, D did NOT enter into any non-cash investing or financing activities. Prepare D's Statement of Cash Flows (in good form for the year ended December 31, 2021. Duses the indirect method. 13. (2 points) On 12-31-20, Acme entered into an agreement that required Acme to pay someone $500,000 on 12-31-32. Assume the appropriate market rate of interest for Acme was 5%. As of 12-31-20, what was the present value of Acme's obligation? As of 12-31-25, what was the present value of Acme's obligation? . 14. (2 point) On 12-31-16, Austin entered into an agreement that required Austin to pay a supplier $1,000 every year on 12-31 until 2025. The agreement required Austin to make the first annual payment on 12-31-17. Assume the market rate of interest for Austin is 2%. As of 12-31-16 what was the present value of Austin's obligation