all parts please

Blackboard & XG Remaining Time: 2 hours, 14 minutes, 46 seconds. Question Completion Status: QUESTION 1 A comparative balance sheet for Shannon Company appears below. SHANNON COMPANY Comparative Balance Sheet Dec 31, 2021 Dec 31, 2020 Assets Cash Accounts receivable Merchandise Inventory Prepaid Insurance Long-term investments Equipment Accumulated depreciation equipment Total assets $ 34,000 18.000 25,000 6,000 $11,000 13,000 17.000 9,000 17.000 3.000 (15.000 $85.000 60.000 _120.000) $123.000 Liabilities and Stockholders' Equity Accounts payable Notes payable Common stock, $ 50 par Retained earnings Total liabilities and stockholders' equity $ 17,000 36,000 40,000 30.000 $123.000 $ 7.000 45,000 23,000 10.000 $85.000 Additional information 1 Net income for the year ending December 31, 2021 was $35,000 2 Cash dividends of $15,000 were declared and paid during the year. 3 Long-term investments that had a cost of $17,000 were sold for $14,000 4 Sales for 2021 were $120,000 PART 1: 100 POINTS Prepare a statement of cash flows for the year ended December 31, 2021, using the indirect method. Present computations when deemed necessary. NOTE: Proper format and syntax (S's) are expected and will be evaluated. A 3.COLUMN TABLE WILL FACILITATE NEATNESS PART 2: MEMO 50 POINTS LOOPS Long-term inves Equipment Accumulated depreciation Total assets Question Completion Status: Liabilities and Stockholders' Equity Accounts payable Notes payable Common stock, 5.50 par Retained earnings Total liabilities and stockholders' equity $ 17,000 36,000 40,000 30.000 $123.000 $ 7.000 45,000 23,000 19.000 $85.000 Additional information Net income for the year ending December 31, 2021 was $35,000 2 Cash dividends of $15,000 were declared and paid during the year. 3 Long-term investments that had a cost of $17,000 were sold for $14,000 4 Sales for 2021 were $120,000 PART 1: 100 POINTS Prepare a statement of cash flows for the year ended December 31, 2021, using the indirect method Present computations when deemed necessary. NOTE: Proper format and syntax (S's) are expected and will be evaluated. A3.COLUMN TABLE WILL FACILITATE NEATNESS PART 2: MEMO 50 POINTS Write a memo to Sylvia Jennings (your summer internship supervisor) that explains what the statement of cash flow you just prepared says about the company. At minimum, discuss, but don't limit yourself to the following items in your memo 1. Which section of the statement do you believe is the most important? Why? 2. Just looking at the statement for this year (without comparing to previous years), do you see any area(s) on which the company should focus? Explain clearly 3. What do you recommend the company do improve its cash flow position? NOTE: FORMAT, GRAMMAR, AND CONTENT WILL BE EVALUATED. TT TT Paragraph Arial 3(12pt) E.T. Click Save and Submit to save and submit. Click Save All Answers to save all answers. S