Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO INC. Balance Sheets February 28 and January 31, 2020 February 28 January 31 Assets Cash $ 29,400 $ 25,900 Accounts receivable 44,800 37,100 Merchandise inventory 56,70e 65, see Total current assets $139,90 $128, see Plant and equipment: Production equipment 116,200 186,400 Less: Accumulated depreciation (16,800) (14,700) Total assets $230,38 $220, 500 Liabilities Accounts payable $ 25, see $ 28,700 Short-term debt 30,00 38,888 Other accrued liabilities 14,700 16,800 Total current liabilities $ 71,400 $ 76,300 Long-term debt 23,100 32,200 Total liabilities $ 94,5ee $188,5ee Stockholders' Equity Connon stock, no par value, 28,000 shares authorized, 21,880 and 19,600 shares issued, respectively $ 72,800 $ 67,200 Retained earnings: Beginning balance $ 44,8 $ 30,100 Net Income for month 25,200 20,300 Dividends (7.eee) (5,600) Ending balance $ 63,eee $ 44,800 Total stockholders' equity $135,00 $112.00 Total abilities and stockholders' equity $230, 30e $220, 500 Required: a. Calculate the change that occurred in cash during the month. You may assume that the change in each balance sheet amount is due to a single event (for example, the change in the amount of production equipment is not the result of both a purchase and sale of equipment). Because the retained earnings section of the balance sheet is. In and of Itself, an analysis of the change in the retained earnings account for the month the row for net income and dividends should be entered as the February amount and not the change. Use the space to the right of the January 31 data to enter the difference between the February 28 and January 31 amounts of each balance sheet Item b. Prepare a statement of cash flows that explains above changes? Complete this question by entering your answers in the tabs below. Required A Required B Calculate the change that occurred in cash during the month. You may assume that the change in each balance sheet amount is due to a single event (for example, the change in the amount of production equipment is not the result of both a purchase and sale of equipment). Because the retained earnings section of the balance sheet is, in and of itself, an analysis of the change in the retained earnings account for the month, the row for net income and dividends should be entered as the February amount and not the change. Use the space to the right of the January 31 data to enter the difference between the February 28 and January 31 amounts of each balance sheet item. Show less Change MILLCO INC. Balance Sheets January 31 and February 28, 2020 February 28 January 31 Assets Cash $ 29,400 $ 25.900 Accounts receivable 44,800 37,100 Merchandise inventory 58,700 65,800 Total current assets $ 130,900 $ 128,800 Plant and equipment Production equipment 116.200 106,400 Less: Accumulated depreciation (16,800) (14,700) Total assets $ 230,300 $ 220,500 $ 25,900 $ 28,700 30,800 30,800 14,700 16.800 71.400 5 76,300 23.100 32.200 94,500 $ 108,500 $ $ Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock Retained earnings Beginning balance Net income for month Dividends Ending balance Total stockholders' equity Total liabilities and stockholders' equity $ 72,800 $ 67,200 $ 44,800 $ 30,100 25,200 20,300 (7.000 (5,600 $ 83,000 $ 44.800 $ 135,800 $ 112,000 $ 220,500 Required A Required B > Required A Required B Prepare a statement of cash flows that explains above changes? (Amounts to be deducted should be indicated by a minus sign.) MILLCO INC Statement of Cash Flows For the Month Ended February 28, 2020 Cash flows from operating activities Add(deduct) items not affecting cash: Cash flows from investing activities Cash flows from financing activities: