Affordable Supply Corp. Comparative Balance Sheets December 31 Increase 20X6 20X5 (Decrease) Current assets: Cash and cash equivalents $ 17,300 $ 4,000 $ 13,300 Accounts receivable 45,700 44,500 1,200 Inventories 61,400 47,000 14,400 (2,100) Prepaid expenses 1,800 3,900 PPE: Land 22,600 69,100 53,100 46,500 3,600 49,500 Equipment, net $ 248,400 $ 171,500 $ Total assets 76,900 Current liabilities: $ 35,200 $ Accounts payable Salary payable Other accrued liabilities 26,900 $ 13,100 24,000 8,300 10,900 (1,600) 22,100 23,700 Long-term liabilities: Notes payable 51,000 34,000 17,000 Shareholders' equity: Share capital, no-par 22,700 88,600 27,500 65,900 7,900 Retained earnings 19,600 $ 248,400 $ 171,500 $ 76,900 Total liabilities and shareholders' equity Affordable Supply Corp. Income Statement Year Ended December 31, 20X6 Revenues: Sales revenue $ 450,000 Expenses: Cost of goods sold $ 186,900 76,300 Salary expense Depreciation expense Other operating expense 17,900 49,900 Interest expense 24,200 29,200 Income tax expense Total expenses 384,400 $ 65,600 Net income Homework Cash Flow HW O Part 15 Question 1 Score: 0 of 1 point Save Tha 20X6 and 200X5 comparative halance shants and 20% Income statement of Affordable Supply Corn. folio: (Click the icon to view the comparative balance sheet. Click the icon to view the income statement) Affordable Suppy had manancash Investing and thang transactions during 2.1%i. During the year, there were nn saks of land arequlament, na nayment of notes payahla, no retirements of shans, and nn raasury shares transactions Requirements 1. Prepare the 20x8 satement of cash lows. Fomailing operating activities by using the indirect method 2. How will att you learned in this problem haln you evaluate an investment? Requirement 1. Prepare the 20x8 statement of Castillons, formatting operating activities by usirg the vive method. Start hy completing the cash flors from operaling activities Then complete each racion of the statement of cash flow Use parentheses or a minus sign for numbers to be subtracted and for a nel decrease in sah. Complete all outcals and do not combine amounts Check your spelling carefully and donol abbreviate! Affordable Supply Corp. Statement of Cash Flows (Indirect Method Year Ended December 31, 20xU Cash flows from operating activities Adjustments to reconcic net income in net cash provided by operating AM UN U Nel cash provided by used for operating alles