Systems Matthew, when the seco shes 40 2000 m Click the been to view the true Requirement trobes Master te parentes Decante egend weder www. 0 Requirements x 1. Prepare Stylistic Automobiles of Manitoba Ltd.'s income statement for the year ended December 31, 2020. Use the single-step format, with all revenues listed together and all expenses listed together. 2. repare Stylistic's balance sheet at December 31, 2020. 3. Prepak Stylistic's statement of cash flows for the year ended December 31, 2020. Format cash flows from operating activities by using the indirect method. 4. Comment on the business performance based on the statement of cash flows 4 Print Done anua e transactions.) * Transactions stid Te ingle-si omd con & End a. $180,000 for equipment b. $203,000 for inventory (seven cars at $29,000 each) c. $17,000 for 2020 rent on a store building In February 2020, Stylistic purchased two cars for inventory on account. Cost of this inventory was $80,000 ($40,000 each). Before year-end Stylistic paid $48,000 of this debt. Stylistic uses the FIFO method to account for inventory. During 2020, Stylistic sold eight stylistic autos for a total of $488.000 Before year-end Stylistic collected 90% of this amount. The business employs five people. The combined annual payroll is $125,000, of which Stylistic owes $8.000 at year-end. At the end of the year Stylistic paid income tax of $12,600. Late in 2020. Stylistic declared and paid cash dividends of $19.000. For equipment, Stylistic uses the straight-line depreciation method over five years with zero residual value Print Done Question Help Stylistic Automobiles of Manitoba Lid was formed on January 1, 2020, when Stylistic issued common shares for $440,000. Early in January 2020, Stylistic made the following cash payments (Click the icon to view the transactions.) Reements CO Requirement 1. Prepare Stylistic Automobiles of Manitoba Lid's income statement for the year ended December 31, 2020 Use the single-step format, with all 9 revenues listed together and all expenses listed together. (Round your answers to the nearest whole dollar.) Stylistic Automobiles of Manitoba, Ltd. Income Statement PAP For the Year Ended December 31, 2020 IG Revenue Expenses entar que Hencome Choose from any list or ntut any number in the input folds and then click Check