Squirrel Tree Services reports the following amounts on December 31. Assets Cash Supplies Prepaid insurance Building Liabilities and Stockholders' Equity $ 8,100 Accounts payable $ 10,900 2,200 Salaries payable 3,900 3,900 Notes payable 24,000 76,000 Common stock 40,000 Retained earnings 11,400 In addition, the company reported the following cash flows. Cash Inflows Customers Borrow from the bank (note) Sale of investments Cash Outflows $68,000 Employee salaries 24,000 Supplies 16,000 Dividends Purchase building $26,000 8,000 8,500 70,000 Required: 1. Prepare a balance sheet. SQUIRREL TREE SERVICES Balance Sheet Assets Liabilities Total liabilities Ichase building 70,000 Required: 1. Prepare a balance sheet. SQUIRREL TREE SERVICES Balance Sheet Assets Liabilities 0 Total liabilities Stockholders' Equity + Total stockholders' equity Total liabilities and stockholders' equity $ 0 $ 0 Total assets 2. Prepare a statement of cash flows. (Cash outflows and decreases in cash should be indicated by a minus sign.) SQUIRREL TREE SERVICES Statement of Cash Flows Cash Flows from Operating Activities 0 Net cash flows from operating activities Cash Flows from Investing Activities 0 Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the year Cash at the end of the year