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18:30 Presented below are the 2021 income statement and comparative balance sheets for Santana Industries. Sales revenue Service revenun Total reve SANTANA INDUSTRIES Income Statement
18:30 Presented below are the 2021 income statement and comparative balance sheets for Santana Industries. Sales revenue Service revenun Total reve SANTANA INDUSTRIES Income Statement Por the Tear Ended December 31, 2021 perating expenses, Cost of goods sold Selling pide (in thousands) General and administrative expense Total operating expen Apereting incore Latest expe Incase before income taxes Incose mapende Net income $ 18,250 2.400 $25,650 9, 200 4.400 3,500 17.100 8.550 350 8, 200 2.600 14.000 Dec. Dec. 31, Balance Sheet Information (5 in thousandic) 2020 2020 Aanets: Canb Accounts receivable $10.300 6,500 $4,000 4,200 Invency 8. 000 5,000 Prepaid cent 350 700 Uppset 16.500 16,000 Lean Accumulated depencastian (3,100) 16,500) Tinal w $36,650 123,400 Liabilities and Shareholders' Equity: Acts payable $5.400 $1.100 Imerret parabila 300 D lefested seve 1,200. Inmee te perble 760 800 1.200 Bir payable dae 12/31/2023) 9.000 0 Cuantock 12,000 fietssed earnings Total liabilities and tharsholders equity T. 9001 $30,660 1.000 6.200 $23.400 Addtional information for the 2021 fiscal year ($ in thousands). 1 Cash dividends of $3,000 were declared and paid 2 Equipment costing $8.000 was purchased with cash, 3 Equipment with a book value of $2.500 (cost of $5.500 less accumulated depreciation of $3,000) was sold for $2,500 4. Demreciation of $3600 is included in operating expenses. Prepare Santana Industries' 2021 statement of cash flows, using the indirect method to p (Amounts to be deducted should be indicated with a minus sign. Enter your answers in SANTANA INDUSTRIES Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities. Adjustments for noncash effects: (5 in thousands) Changes in operating assets and liabilities: Net cash flows from operating activities 0 Cash flows from investing activities. Net cash flows from investing activities Cash flows from financing activities: Net increase in cash Net cash flows from financing activities Cash, January 1 Cash, December 31 0
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