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Requirement 3. Prepare Antique's statement of cash flows for the year ended December 31, 2021. Format cash flows fric fo (5) Paper size Letter (6) (7) Requirement 2. Prepare Antique's balance sheet at December 31, 2021. Antique Motors, Inc. Balance Sheet December 31, 2021 Assets Current assets (8) (10) (12) (14) Liabilities Current liabilities (9) (11) (13) Stockholders' equity (15) (17) (19) (20) (21) Requirement 3. Prepare Antique's statement of cash flows for the year ended December 31, 2021 Format cash flows from operating activities using the indirect method. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash. Enter \"0\" tor zero balances ) Antique Motors, Inc. On January 1,2021 , Antique issued its common stock for \\( \\$ 430,000 \\). Early in January, Antique made the following cash payments. a. \\( \\$ 160,000 \\) for equipment b. \\( \\$ 234,000 \\) for inventory (six cars at \\( \\$ 39,000 \\) each) c. \\( \\$ 18,000 \\) for 2021 rent on a store building In February, Antique purchased four cars for inventory on account. The cost of this inventory was \\( \\$ 192,000 \\) ( \\( \\$ 48,000 \\) per car). Before year-end, the company paid off \\( \\$ 153,600 \\) of this debt The company uses the first-in, firstout (FIFO) method to account for its inventory. Dunng 2021, Antique sold seven autos for a total of \\( \\$ 504,000 \\). Before year-end, it had collected \50 of this amour The business employs two people. The combined annual payroll is \\( \\$ 60,000 \\), of which Antique owes \\( \\$ 2,000 \\) at year-end. At the end of the year, the company paid income taxes of \\( \\$ 22,000 \\) Late in 2021, Antique declared and paid cash dividends of \\( \\$ 16,000 \\) For equipment, Antique uses the straight-line depreciation method, over five years, with zero residual value. 2: Requirements 1. Prepare Antique's income statement for the year ended December 31,2021. Use the single-step format, with all revenues listed together and all expenses together. 2. Prepare Antique's balance sheet at December 31, 2021 3. Prepare Antique's statement of cash flows for the year ended December 31, 2021 . Format cash flows from operating activities using the indirect method Antique Motors, Inc, was formed on January 1, 2021. The following transactions occurred during 2021 : '(Click the icon to view the transactions) Read the requirements \\( { }^{2} \\) Requirement 1. Prepare Antique's income statement for the year ended December 31, 2021. Use the single-step forma with all revenues listed together and all expenses together Requirement 2. Prepare Antique's balance sheet at December 31, 2021
