QUESTION 4 14 points The comparative balance sheets for Gattuso Industries for December 31, 2021 and 2020, as well as the Income Statement for the year ending December 31, 2021 are shown below. Prepare a full Statement of Cash Flows, using the indirect method for operating cash flows, for Year 2. GATTUSO INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue $14,250 Service revenue 3,400 $17,650 Total revenue Operating expenses: Cost of goods sold 5,600 Depreciation Expense 1,600 Selling expense 2,400 General and administrative expense 1,500 Total operating expenses Operating income 11,100 6,550 Interest expense 150 Income before income taxes 6,400 Income tax expense 1,600 Net income $ 4,800 Dec. 31, Dec. 31, Balance Sheet Information ($ in thousands) 2021 2020 Assets: Cash $ 8,300 $ 2,200 Accounts receivable 2,500 2,200 4,000 3,000 150 300 Inventory Prepaid rent Equipment Less: Accumulated depreciation 14,500 12,000 (5,100) (4,500) Total assets $24,350 $15,200 Liabilities and Shareholders' Equity: Accounts payable $ 1,400 $ 1,100 Interest payable 100 0 Deferred revenue 800 600 550 800 Income taxes payable Notes payable (due 12/31/2023) 5,000 0 Common stock 10,000 10,000 Retained earnings 6,500 2,700 Total liabilities and shareholders' equity $ 24,350 $15,200 Additional information for the 2021 fiscal year ($ in thousands): 1. Cash dividends of $1,000 were declared and paid. 2. Equipment costing $4,000 was purchased with cash. 3. Equipment with a book value of $500 (cost of $1,500 less accumulated depreciation of $1,000) was sold for $500