on Penguins Company had the following statements prepared as of December 31, 2021. Penguins Skate Rink Company Comparative Balance Sheet As of December 2021 2021 2020 Cash $2,500 $4,000 Accounts receivable 123,000 104,000 Allowance for Doubtful (10,000) (7.000) accounts Short-term investments 99,000 121.000 (Available-for-sale) Inventories 91,000 54,000 Prepaid insurance 4,000 6,000 Ski equipment 89,000 43.000 Accumulated (23,500) (18,000) depreciation equipment Franchise 79,000 83,000 Total assets $454,000 $390,000 Accounts payable 92,200 75,000 Income taxes payable 21,800 15,700 Salaries & wages payable 4,000 9.000 Short-term non-trade 23,500 Time left 0:30:26 Short-term 23.500 notes payable 0 Bonds payable 75,000 125.000 Discount on bonds (7.000) (20,000) payable Common stock. $1 par 100,000 100,000 Additional paid-in capital 40,000 40.000 Retained earnings 104,500 45,300 Total liabilities & equity $454,000 $390,000 Penguins Skate Rink Company Income Statement For The Year Ending December 31, 2021 Sales $540,200 302.000 Cost of goods sold Gross margin $238,200 94.000 Operating expenses Operating income $144,200 20,500 Interest expense Loss on sale of equipment 4.000 24.500 Income before income tax $119,700 Income tax expense 40,500 Net income $79,200 Additional information: 1. Depreciation expense, amortization expense and bad debt expense are included in operating expenses 2. Equipment that had a cost of $25,000 and was 20% depreciated was sold during 2021 Use the information above to determine the following: Important Note: Please fill- in your answer in numbers only, without using any other characters such as $ or, or (). Question 19 Cash received from Not yet customers. answered Marked out of 1 Flag question Answer: Question 20 Cash paid to suppliers. Not yet answered Marked out of 1 Answer: Flag question Question 21 Cash paid for operating Not yet expenses. answered Marked out of 1 9:14 AM Wed 16 Jun cbarzelt.edu Time left 0:30:04 Question 22 Not yet Cash paid for interest. an wwered Marked out of 1 Answer: r Flag question Ostion 23 Not yet Cash paid for taxes answered Marked out of 1 Answer: F Flag question Question 24 Not yet Net cash used by investing activities answered Marked out of 1 Flag question Answer: Question 25 Not yet Net cash used by financing activities. answered Marked out of 1 P Flag