Accounts payable $-32,087$

Accounts receivable $-9,550$

Cash $-13,300$

Dividends $-1,950$

Equipment $-86,000$

Notes payable $-1,160$

Operating expenses $-58,700$

Other expenses $-8,850$

Sales revenue $-91,000$

SH capital contrbn $-59,103$

Supplies $-5,000$

Questions:

Prepare an Income Statement $(3$ marks$),$ Statement of Retained Earnings $(1$ marks$)$ and Balance Sheet $(2$ marks$)$ for Tru Flavour Restaurant for the year ended December $31,2021.$

Explain whether the company could have paid out more dividends to its shareholders. Include supporting data to show why or why not?

Identify whether the company is financed mainly by creditors or shareholders?

Evaluate whether the company was profitable

How much cash $($increase$/$decrease$)$ would be shown in the Statement of Cash Flows?