Required Prepare an entre 2021 Statement of Cash Flow all three sections using the Indirect method for the Operating Activities section All of the numbers in your completed Statant of Cash Flows must be call references to other numbers in this worksheet 2021 2020 United Brands Corporation Income Statement for the year ended December 31, 2021 (Sin million $41 32 46 3 520 30 50 6 $100 60 10 RO 81 -13 110 United Brands Corporation 10 Balance Sheets 19 December 31, 2021 and 2020 20 15 in min) 21 22 ASSETS Current Assets 24 Cash counts receivable Inventory Prepaid isurance Property. Play & Equmenti Land 30 Topment Les Accumulated depreciation 1 Totes 31 LABILITIES Current site Accounts payable 12 Salaries payable Income tax payable Netus payable current 10 Lore term obili 41 Notes payabilonem 42 EQUITY Common stock, 510 par. 50 milion shares authorired 13 million issued in 2021 41 10 millioned in 2020 Pand-in capital in excess of par common stock 45 Betained Earning 46 Total Lattes and Cuty A7 60 75 (20) 5221 $262 + Sales revenue Cost of goods sold Gross profit Operating expenses Salaries Depreciation expense Inice pense Income from sparation Other income and expenses Interest expense Gin on sale of land Loss on sale of equipment Income before taxes Income taxe Net income 7 17 526 $20 1 8 42 34 21 21 -9 $12 20 5110 5100 29 19 $267 20 25 $221 G United Brands Corporation Income Statement for the year ended December 31, 2021 Sin millions $100 (60) 40 3 Sales revenue 5 Cost of goods sold Gross profit Operating expenses Salaries expense Depreciation expense Insurance expense Income from operations 3 Other income and expenses 4 Interest expense Gain on sale at land Loss on sale of equipment income before taxes B Income tax expense Net income (13) 133 (7) 17 (2) 8 12) 21 19) $12 + Additional information for 2021 transactions 14 75 All inventory is purchased on account, and the Accounts Payable account is used exclusively for inventory Burchas 25 17 h. in 2021, a portion of the company and wat sold for $20 million in cash. The land was really burchased in a previous year for 510 milion TO 29 and worthed in 2021 for mon cash for use as a parking lot at ufquipment was cold in 2023 that had an Accumulated Depreciation balance of 57 million on the date of all the equipment originally cout 624 mnmon und unsold at a time for can down your mandatory ...2021, new equipment was acquired by issuing a 12 five year. $20 milion note payable to the seller 14 During 20212 555 milion of short term (current) notes payable were paid in cash and 542 million of cath was horrowed in the form of short term dutt (surrent notes pagabile BE 17 The increase in the common stock account is attributed to two transactions 1. face of a 10% stock dividend (1 milion shares) when the market price was $13 per share. (Hit Reconstruct the Journal entry. Look back at the chapter la notes for small rock didend 2 tsuance of million shares for cash when the market price was $13 per share. IHINT: Reconstruct the journal entry) 20 Cash dividends were declared and paid to shareholders in 2021 IHINT: You must determine the amount of cash dividends declared and paid