Presented below is the comparative SOFP and Income Statement of Spring Bake Shop Corporation Create a Statement of Cash Flows

Spring Bake Shop Corporation Statement of Financial Position As of the year ended December 31, 2019 Notes 2019 2018 ASSETS Current Asset Cash 821,480.00 887,410.00 Accounts Receivable 3,611,300.00 3,283,000.00 Inventories 7 3,529,082.00 3,472,170.00 Prepaid insurance 71,490.00 64,990.00 Total Current Assets 8,033,352.00 7,707,570.00 Non-Current Asset Property and equipment - net 8 20,920,000.00 18,190,000.00 Total Assets 28,953,352.00 25,897,570.00 LIABILITIES AND STOCKHOLDERSEQUITY Liability Current Liabilities Trade & Other payables 5,732,480.00 4,355,140.00 Non-Current Liabilities Notes Payable 500,000.00 Total Liabilities 5,732,480.00 4,855,140.00 Stockholders' Equity Ordinary Share Capital 5,200,000.00 7,800,000.00 5% Preference Share Capital 5,700,000.00 6,264,000.00 Share Premium 1,575,000.00 2,021,700.00 Treasury Shares (140,500.00) 183,800.00) Retained Earnings 10,886,372.005,140,530.00 Total Stockholders' Equity 23,220,872.00 21,042,430.00 Total Liabilities and Stockholders' Equity 28,953,352.00 25,897,570.00 Spring Bake Shop Corporation Income Statement For the year ended December 31, 2019 Notes 2019 2018 Net Sales 42,893,400.0038,994,000.00 Cost of goods sold 2(22,744,988.00) (21,201,730.00) Gross Profit 20,148,412.0017,792,270.00 Other Income 340,000.00 230,000.00 Operating Expenses Selling Expenses (5,947,270.00) (5,479,280.00) 4 (4,808,220.00) (3,996,520.00) General and Admin Expenses Net Income before Interest and Income Taxes 9,732,922.008,546,470.00 96,000.00)(60,000.00) Interest Expensee Net Income before Income Taxes 9,636,922.008,486,470.00 (2,891,080.00) (2,545,940.00) Income Tax Expense Net Income 6,745,842.005,940,530.00