The Extra Surplus Company's Balance Sheet for December 31, 2020 and the Income Statement for 2021 are shown below. Extra Surplus Company Balance Sheet December 31, 2020 Assets Cash $ 15,000 Accounts Receivable 7,500 Inventory 18,000 Property and Equipment, Net 30,000 $ 70,500 Liabilities and Stockholders Equity Accounts Payable $ 15,000 Notes Payable, Long-Term 7,500 Common Stock 30,000 Retained Earnings 18,000 $ 70,500 Extra Surplus Company Income Statement For the Year Ended December 31, 2021 Sales $ 26,000 Cost of Goods Sold 6,000 Salaries and Wages Expense 6,000 Interest Expense 2,000 Other Expense 1,000 Net Income $ 11,000 Additional data: Sales were $26,000; $16,000 in cash was received from customers. Bought new land for cash, $20,000. Sold other land for its book value of $10,000. Paid $2,000 principal on the long-term note payable and $2,000 in interest. Issued new shares of stock for $20,000 cash. Cash dividends of $3,000 were declared and paid to stockholders. Paid $11,500 on accounts payable. No inventory purchases were made; other expenses were incurred on account. All wages were paid in cash. Other expenses were on account. Required: Prepare a comparative balance sheet at December 31, for 2021 and 2020. Include the change from 2020 to 2021. Prepare the statement of cash flows using the direct method.