JUNO LTD. Statement of Financial Position (partial) December 31 2021 2020 $7,000 5,900 $12,000 4,500 2,500 3,000 Current assets Accounts receivable Inventory Prepaid expenses Current liabilities Accounts payable Income tax payable Property tax payable Bank loan payable-current portion 2,500 800 3,750 1,200 2,500 5,000 1,500 10,000 JUNOLTD. Statement of Income Year Ended December 31, 2021 Sales $190,000 Cost of goods sold 114,000 Gross profit 76,000 Operating expenses 50,000 Income from operations 26,000 Interest expense 1,200 Income before income tax 24,800 Income tax expense 3,800 Net income $21,000 Additional information: 1. The bank loan was received in the past to finance the purchase of equipment. Operating expenses included depreciation expense of $11,000 and a loss of $5,000 on the disposal of equipment. 2. Prepare the operating activities section of the statement of cash flows, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) JUNO LTD. Statement of Cash Flows (Partial) Year Ended December 31, 2021 Operating activities Net income $ 21,000 Adjustments to reconcile net income to $ $ Touthool and Media