pacar Heading 1 Heading 2 Title Subtitle Paragraph IN Q2. The 2020 comparative balance sheet and income statement of Blue-Chip Ltd. follow. Riverbend had no non-cash investing and financing transactions during 2020. During the year, there were no sales of land or equipment, no issuances of notes payable, and no share repurchase transactions COM204101&C1005. 2021 Spring Assignment 6 (C598 10) I Due on April 14 2,019 Difference? Blue Chip Ltd. Comparative Balance Sheet As at December 31, 2020 and 2019 2,020 Current assets: Cash & cash equivalents $ 28,700 S Accounts receivable 47,100 Inventory 95,000 Prepaid expense 1,700 Property, plant, and equipment 15,600 44,000 89,900 2,200 I and 2nnnn in ann Styles Cash & cash equivalents $ 28,700 $ 15,600 Accounts receivable 47,100 44,000 Inventory 95,000 89,900 Prepaid expense 1,700 2,200 Property, plant, and equipment Land 30,000 10,000 Equipment, net 100,900 93,700 Total assets $ 303,400 $ 255,400 Current liabilities Accounts payable $ 22,700 S 24,600 Salary payable 2,100 1,400 Other accrued liabilities 24;200 22,500 Long-term liabilities: Notes payable 55,000 65,000 Shareholders' equity: Common shares 131,100 122,300 Retained earnings 68,100 19,600 Total liablities & shareholders' equity $ 303,400 $ 255,400 Blue Chip Ltd. Blue Chip Ltd. Income Statement For the Year Ended December 31, 2020 Revenues: Sales revenue Interest revenue $ 438,000 11,700 449,700 Total revenues 20.0100 810052721 Salg Due on Anril 14 $ 185,200 75,000 15,300 Expenses: Cost of goods sold Salary expense Depreciation expense Other operating expense Interest expense Income tax expense Total expenses 49,700 24,600 16,900 366.700 COM204.01001&C1005, 2021 Spring Assignment #6 (Ch9&10) Due on April 14 Expenses: Cost of goods sold Salary expense Depreciation expense Other operating expense Interest expense Income tax expense $ 185,200 75,000 15,300 49,700 24,600 16,900 Total expenses 366,700 83,000 Net income $ Required: Prepare the 2020 statement of cash flows by using the direct method