12 Quiz* Saved mie Laura Jurpius Company a balance untetivi DecemINTI JI, 22 and the income statement 2021 SHOWN DCIOW. Extra Surplus Company Balance Sheet December 31, 2020 Assets Cash Accounts Receivable Inventory Property and Equipment, Net 33 Liabilities and Stockholders' Equity Accounts Payable Notes Payable, Long-Term Common Stock Retained Earnings Sales Extra Surplus Company Income Statement For the Year Ended December 31, 2021 Cost of Goods Sold Salaries and Wages Expense Interest Expense Other Expense Net Income $ 20,800 4,800 4,800 1,600 800 $ 8,800 $13,000 6,500 15,600 26,000 $ 61,100 $13,000 6,500 26,000 15,600 $ 61,100 Additional data: Sales were $20,800; $12,800 in cash was received from customers. Bought new land for cash, $16,000. Sold other land for its book value of $8,000. Paid $1,600 principal on the long-term note payable and $1,600 in interest. Issued new shares of stock for $16,000 cash. Cash dividends of $2,200 were declared and paid to stockholders. Paid $9,100 on accounts payable. No inventory purchases were made; other expenses were incurred on account. All wages were paid in cash. Other expenses were on account. Help 12 Quiz* i b. Prepare the statement of cash flows using the direct method. Saved Complete this question by entering your answers in the tabs below. Required A Required B 29 Prepare a comparative balance sheet at December 31, for 2021 and 2020. Include the change from 2020 to 2021. EXTRA SURPLUS COMPANY Balance Sheet at December 31, 2021 2021 2020 Change < Required A Required B > Help 12 Quiz" i Required A Required B Saved Prepare the statement of cash flows using the direct method. (Enter any deductions and cash outflows as a negative value.) EXTRA SURPLUS COMPANY Statement of Cash Flows Year Ended December 31, 2021 25 Cash Flows from Operating Activities: Cash Flows from Investing Activities: Cash Flows from Financing Activities: < Required A Required B > Help