Problem 7-1 From the following information for Deelan's Doodads, prepare a Statement of Cash Flows for the year ended December 31,202 The land was acquired on March 31, 20X2 for cash. The additional common was sold on March 31, 20X2 for $1 per share. The company did not sell any equipment during the year. All equipment purchased during the year was purchased for cash. The retained earnings balance for both years is after all closing entries have been made. The Note Payable requires payments of $30,000 principal plus interest at 10% on June 30th of each year. Problem 7-2 From the following information for Brayden's Bobbles, prepare a Statement of Cash Flows for the year ended December 31,201. The equipment was acquired on September 30, 20XI for cash. The additional common stock was sold on June 30,20X1 for $1 per share. The company did not sell any equipment during the year. The land purchased during the year was purchased for cash. The retained earnings balance for both years is after all closing entries have been made. Dividends? The Note Payable requires payments of $10,000 principal plus interest at 10% on June 30 of each year. ACCT 1010 MAP SPRING 2023 Problem 7.3: Fluff, Inc. Year 4204 You bought 13 more Fluffs for $4,000 cach and sold 15 for $9,000 each, same terms as last year. Paid the money owed to suppliers (Accounts Payable) at the beginning of the year and collected all money due you at the beginning of the year (Accounts Receivable). On January 1, you took out a loan for 20,000 at 7\% interest. After you took out the loan, you purchased a delivery truck for $30,000. For the loan, you will make 4 equal annual payments that include interest at 7%. You make the first payment on December 31s of this year. You estimate the truck will last about 6 years and then be worth $6,000. You paid your worker $13,000 and owed her $3,000 more at the end of the year. On June 30, you paid $2,400 for a oneyear insuranee policy. You paid eleven months of rent @ $1,000 per month. On December 31"t, you paid the furniture \& fixtures loan payment. Paid Uncle Mike his interest and also paid the principal balance owed on December 31. On April 1, the company issued 100 shares of common stock for $20,000. The tax rate is still 30% and during the year you paid last year's taxcs. Taxes for this year will be paid next year. At the end of the year, you paid a dividend to shareholders of $8,000. Prepare Journal Entries, T-aceounts, an Income Statement, a Statement of Owners' Equity, Balance Sheet and Cash Flow