Take me to the text The balance sheet and income statement for Mary Hotels are presented below. Mary Hotels Balance Sheet As at December 31 2020 2019 Assets Current Assets Cash $147,585 $79,100 Accounts $45,900 $29,600 Receivable Inventory $70,400 $44,700 Total Current $263,885 $153,400 Assets Land $100,000 $106,000 Equipment $100,000 $133,000 Accumulated $-51,000 $-65,000 Depreciation Total Assets $412,885 $327,400 Liabilities and Equity Liabilities Current Liabilities Accounts Payable $35,700 $65,200 Taxes Payable $20,100 $20,100 Total Current $55,800 $85,300 Liabilities Notes Payable $128,100 $87,500 Total Liabilities $183,900 $172,800 Shareholders' Equity Common Shares $77,900 $64,900 Retained Earnings $151,085 889,700 Total Shareholders' $228,985 $154,600 Equity Total Liabilities $412,885 $327,400 and Equity Notes: The company paid cash dividends during 2020. The company did not make a notes payable payment during 2020. The company did not purchase any equipment during 2020. The company did not purchase any land during 2020. Mary Hotels Income Statement For the Year Ended December 31, 2020 Revenue $427,000 Cost of Sales $277,550 Gross Profit $149,450 Operating Expenses Depreciation Expense $5,000 Other Operating Expenses $26,700 Total Operating Expenses $31,700 Income from Operations $117,750 Other Income and Expenses Interest Expense $-5,000 Loss on Sale of Equipment $-5,200 Gain on Sale of Land $5,000 Operating Income before Tax $112,550 Income Tax $33,765 Net Income (Loss) $78,785 Mary Hotels Cash Flow Statement For the Year Ended December 31, 2020 Cash Flow from Operating Activities Net Income Adjustments for Non- Cash Items Depreciation Expense Loss on Sale of Equipment Gain on Sale of Land Changes in Current Assets and Current Liabilities Increase in Accounts Receivable Increase in Inventory Decrease in Accounts Payable Change in Cash Due to Operating Activities Cash Flow from Investing Activities Sale of Equipment Sale of Land Net Cash Provided (Used) by Investing Activities Investing Activities Sale of Equipment Sale of Land Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Issuance of Common Shares Proceeds from Notes Payable Payment of Dividends Net Cash Provided (Used) by Financing Activities Net increase (decrease) in cash Cash at the Beginning of the Year Cash at the End of the Year