The comparative statements of financial position of Mikos Inc. as at December 31, 2020 and 2021 and its statement of earnings for the year ended December 31, 2021 are presented below: MIKOS INC. Comparative Statements of Financial Position December 31 Assets Cash Short-term investments Accounts receivable Inventories, at cost Prepaid expenses Land Property, plant, and equipment, net Intangible assets Liabilities and Shareholders' Equity Accounts payable Income tax payable 2021 2020 $ 9,700 $17,700. 56,900 29,100 71,500 28,800 55,400 40,700 4,700 7,400 47,800 73,500 282,800 182,500 24,700 29,400 $553,500 $409,100 $ 17,700 $ 41,400 1,700 Accrued liabilities Long-term notes payable Contributed capital Retained earnings 7,400 10,700 -0- 117,000 164,000 214,000 63,500 186,700 138,500 $553,500 $409,100 Sales Cost of sales. MIKOS INC. Statement of Earnings For the Year Ended December 31, 2021 Amortization expense-intangible assets Depreciation expense-property, plant, and equipment Operating expenses Interest expense Earnings before income taxes Income tax expense Net earnings $871,000 $437,000 4,700 33,700 228,000 12,700 716,100 154,900 46,470 $108,430 Additional information is as follows: a. Land was sold for cash at its carrying amount. b. The short-term investments will mature in February 2022. c. Cash dividends were declared and paid in 2021. d. New equipment with a cost of $166,700 was purchased for cash, and old equipment was sold at its carrying amount. e. Long-term notes of $13,500 were paid in cash, and notes of $33,500 were converted to shares. Cash flows from operating activities: Net earnings Answer is not complete. MIKOS INC. Statement of Cash Flows For the Year Ended December 31, 2021 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization expense Increase in accounts receivable Increase in inventory Decrease in prepaid expenses Decrease in accounts payable Increase in income tax payable Increase in accrued liabilities Net cash flow from operating activities. Cash flows from investing activities: Purchase of equipment Sale of equipment Sale of land Net cash flow used for investing activities Cash flows from financing activities: Payment of cash dividends, Repayment of long-term note Issuance of common shares Net cash flow from financing activities Net increase in cash and short-term investments Cash and short-term investments, beginning of year Cash and short-term investments, end of year 000 + 0 0 0 0 0