For December 31, 20XX, the balance sheet of the Gardner Corporation is as follows: Sales for 20XY were $297.000, with cost of goods sold being 63 percent of sales. Amortization expense was 10 percent of plant and equipment (net) at the beginning of the yeat. Interest expense for the bonds payable was 14 percent, while interest on the notes payabie was 19 percent. These are based on December 31.20x, balances, Selling and administrative expenses were $30,000, and the tax rate averaged 18 percent. During 20XY, the cash balance and prepaid expense balance were unchanged. Accounts recelvable and inventory each increased by 14 percent, and accounts payable incieased by 34 percent. A new machine was purchased on December 31,20XY, at a cost of $,41,500. A cash dividend of $10,500 was paid to common shareholders at the end of 20XY. Also, notes payable increased by $2,170 and bonds payable decreased by 10,070 . The common stock account did not change. o. Prepare an income statement for 20XY. (Input all answers os positive values.) Gardner Corporation Income Statement For the Year Ending December 31, 20XY b. Prepare a balance sheet as of December 31,20XY. (Input all answers as positive values. Be sure to list the assets and liabilities in order of their liquidity.) c. Prepare a statement of cash flows for the year ending December 31, 20XY. (Record the change in the notes payable under the operating activity of Cosh flow. Do not leave any empty spoces; input o 0 wherever it is required. Amounts to be deducted should be indicoted with o minus sign. Omit \$ sign in your response.) Gardner Corporation Statement of Cash Flows - For the Year Ended December 31, 20XY Operating Activities: (Click to select) Add items not requiring an outlay of cash: (Click to select) Cash flow from operations Changes in non-cash working capital: Net Change in non-cash working capital Investing activities: (Click to select) Cash (Click to select) Investing activities Financing activities: Cash (Click to select) financing activities Cash (Click to select) financing activities (Click to select) Cash, beginning of year Cash, end of year s