Question 31 (13 points) Saved The 2021 financial statements of Honourable Minds Supply (HMS) Inc. are presented below. HMS conducted all investing and financing transactions in cash (i.e., no non- cash transactions) during 2021. During the year, they did not sell land or equipment and they did not issue any new notes payable. The company did not repurchase any shares. Honourable Minds Supply Inc. Comparative Balance Sheet As at December 31, 2021 and 2020 Dec 31, 2021 Dec 31, 2020 Difference Current assets Cash and cash equivalents 17,600 15,300 2,300 Accounts receivable 23,200 19,800 3,400 Inventories 88,600 82,200 6,400 Prepaid expenses 5,300 4,200 1,100 Total current assets 134,700 121,500 13,200 Non-current assets Land 98,000 98,000 Equipment, net 65,500 60,400 5,100 Total non-current assets 163,500 158,400 5,100 Total assets 298,200 279,900 18,300 Current liabilities