Data Table The December 31, 2020, balance sheet and the 2021 statement of cash flows for Icy Corporation follow: Click the icon to view the December 31, 2020 balance sheet.) Click the icon to view the 2021 statement of cash flows.) Requirement 1. Prepare the December 31, 2021, balance sheet for Icy. Prepare the asset section of the balance sheet, then the liabilities, and finally the total liabilities and stockholders' equity. Icy Corporation Balance Sheet December 31, 2021 $ 17,000 Icy Corporation Statement of Cash Flows Year Ended December 31, 2021 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation $ Loss on sale of equipment Gain on sale of land Change in assets and liabilities: Decrease in Accounts receivable Assets: 13,200 14,000 (6,900) 37.500 Total (7,900) (1,300) (1,700) (4.400) 13,300 55,800 $ 72,800 Increase in Inventory Increase in Prepaid expenses Increase in Accounts payable Decrease in Taxes payable Increase in Unearned revenue Net cash provided by operating activities Cash flows from investing activities: Purchase of equipment Sale of equipment Sale of land Net cash provided by investing activities Cash flows from financing activities: Renavment of long-term debt (30,000) 4,000 70.800 44,800 119.000) Print Done Calculator Print Clear All Check Answer - X - X Data Table Data Table $ 13,200 Icy Corporation 14,000 Balance Sheet December 31, 2020 (6,900) Assets: Depreciation Loss on sale of equipment Gain on sale of land Change in assets and liabilities: Decrease in Accounts receivable Increase in Inventory Increase in Prepaid expenses Increase in Accounts payable Decrease in Taxes payable $ Cash Accounts receivable (net) 10,800 76.500 60,600 Inventory Prepaid expenses Land 37,500 (7,900) (1,300) (1.700) (4.400) 13,300 2,300 104.000 73,200 55,800 Machinery and equipment (net) $ $ 327,400 72,800 Total assets Liabilities: Accounts payable Unearned revenue Income taxes payable Increase in Uneared revenue Net cash provided by operating activities Cash flows from investing activities: Purchase of equipment Sale of equipment $ 40.700 8,700 6.000 79.600 (30,000) 4,000 70,800 Sale of land 44.800 Long-term debt 135,000 Total liabilities Stockholders' equity: Common stock, no par Retained earnings Total stockholders' equity Net cash provided by investing activities Cash flows from financing activities: Repayment of long-term debt Issuance of common stock Dividends paid (dividends declared, $9,000) Net cash used for financing activities Increase (decrease) in cash Cash balance, December 31, 2020 (19,000) 18,500 (4,000) 47,300 145.100 (4,500 192.400 $ 327,400 113.100 10.800 Total liabilities and stockholders' equity $ 123.900 Cash balance, December 31, 2021 Print Done Print Done