Hoboken Cobbler Inc Balance Sheet Year End December 31 Hoboken Cobbler Inc Income Statement Year End December 31 Assets 2020 2021 Cash (B) (D) Revenues 2020 44,204 2021 52,656 Accounts Receivable 1,830 1,852 Cost of sales (34,209) (35,843) Allowance for Uncollectible Accounts (183) (G) Gross margin 9,995 16,813 Prepaid Rent 258 369 Wage expenses (4,532) (3,245) Inventory 3,423 2,512 Depreciation Expense (1,364) (1,058) PPE, Gross 73,234 76,734 Other expenses (1,521) (8,318) Accumulated Depreciation (20,000) (E) Net income 2,578 4,192 Total Assets (A) N/A Liabilities Accounts Payable 4,024 3,190 Hoboken Cobbler Inc Notes Payable 12,000 12,000 Cash Flow Statement Year End December 31 Unearned Revenues 4,365 5.689 Total Liabilities 20,389 20,879 Cash From Operations 2020 3,128 2021 6,520 Shareholders' Equity Contributed Capital 45,000 N/A Cash From Investing Cash From Financing Change In Cash (1,500) (2,000) (372) N/A (2,000) (c) Retained Earnings 2,442 (E) Total Equity 47,442 N/A Total Liabilities and equity N/A N/A Additional information: 1 The business estimates uncollectable accounts based on 10% of accounts receivable 2 The only "financing activity" in the statement of cash flow in both years relates to cash payments of dividends. 3 Cash from "investing activity" in 2021 relates to the purchase of additional equipment in cash. No other equipment was purchased or sold in 2021. 4 The company paid taxes of $1,300 for 2021. Show the work on the calculations on all questions, please