Question 5 Susan, Inc. has prepared the following comparative balance sheets for 2020 and 2021: Cash Accounts receivable Inventory Prepaid expenses Plant assets Accumulated depreciation Patents 2021 $ 313,020 154,290 166,500 19,980 1,437,450 (499,500) 169,830 $1,761,570 $ 169,830 66,600 2020 $ 169,830 129,870 199,800 29,970 1,165,500 (416,250) 193,140 $1,471,860 $ 186,480 46,620 499,500 Accounts payable Accrued liabilities Martgage payable Preferred stock Additional paid-in capital-preferred Common stock Retained earnings 582,750 133,200 666,000 143,190 $1,761,570 666,000 73,260 $1,471,860 1. The Accumulated Depreciation account has been credited only for the depreciation expense for the period. The Retained Earnings account has been charged for dividends of $153,180 and credited for the net income for the year. 2. The income statement for 2021 is as follows: Sales revenue $2,197,800 Cost of sales 1,208,790 Gross profit 989,010 Operating expenses 765,900 Net income $ 223,110 From the information above, prepare a statement of cash flows (indirect method) for Susan, Inc. for the year ended December 31, 2021. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) Susan, Inc. Statement of Cash Flows For the Year Ended December 31, 2021 Increase (Decrease) in Cash Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense INCL Carrovucu Dy peraung ALCIVILICO RCES Depreciation Expense W Privacy Policy | D 2000-2020 John Wiley & Sons, Inc. All Rights Reserve la Division of Anhn Wiley & Cane Tom $ From the information above, prepare a schedule of cash provided by operating activities using the direct method. Susan, Inc. Schedule of Cash Provided by Operating Activities