3. Comparative Balance sheet of Athlede Company are given below : Athlede Company Comparative Balance Sheet December 31 __2020 2019 _ Current Assets Cash $104,800 $27,000 Accounts receivable 21,200 23,400 Inventories 9,000 7,000 Prepaid Rent 9,000 15,000 Prepaid Insurance 11,500 9,500 Non-Current Assets Land 75,000 35,000 Plant assets 250,000 215,000 Accumulated depreciation (65,000) (60,000) Total Assets $415,500 $271,900 Current Liabilities Accounts payable $9,000 $ 5,700 Notes payable 29,000 34,000 Long-term Liabilities: Bank Loan 100,000 70,000 Stockholders Equity: Common stock 75,000 47,700 Retained earnings 202,500 114,500 Total Stockholders Equity 277,500 162,200 Total Liabilities and Stockholders Equity $415,500 $271,900 Page 3 of 4 Some key Income statement items of Athlede Company are as follows: Revenue $500,000 Cost of goods sold $185,000 Net Income $102,000 Additional information: 1. New Land was purchased for cash, in 2020. Plant assets worth $60,000 was also purchased with cash. 2. On 31 July, 2020, plant asset that was purchased three years back for $25,000 was sold for $11,000. On 31 July, 2020, the accumulated depreciation for the old plant asset was $12,000. 3. New stock/ shares worth $27,300 was issued. 4. A cash dividend of $17,000 was declared and paid during the year. 5. A new bank loan was taken in 2020. 6. The current market price of one share/ stock of Athlede Company is $8.30. 7. The depreciation expense charged in 2020 is $20,000. Required: c. Prepare a Statement of Cashflow, for the year ended 31 December 2020. 22 Marks d. Calculate the following ratio for the year 2020: (i). Quick Ratio, (ii). Accounts Receivables Turnover (iii). Payout Ratio. (1 mark for formula 1 mark for calculation)