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 $ 15,500 Accounts Receivable 7,750 Inventory 18,600 Property and Equipment, Net 31,000 $ 72,850 Liabiuties and Stockholders' Equity Accounts Payable $ 15,500 Notes Payable, Long-Term 7,750 Common Stock 31,000 Retained Earnings 18,600 $ 72,850 Extra Surplus Company Income Statement For the Year Ended December 31, 2021 Sales $ 27,300 Cost of Goods Sold 6,300 Salaries and Wages Expense 6,300 Interest Expense 2,100 Other Expense 1,050 Net Income $ 11,550 . Additional data: Sales were $27,300; $16,800 in cash was received from customers. Bought new land for cash, $21,000. Sold other land for its book value of $10,500. Paid $2,100 principal on the long-term note payable and $2,100 in interest. Issued new shares of stock for $21,000 cash. Cash dividends of $3,200 were declared and paid to stockholders. Paid $12,100 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: a. Prepare a comparative balance sheet at December 31, for 2021 and 2020. Include the change from 2020 to 2021. b. Prepare the statement of cash flows using the direct method. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a comparative balance sheet at December 31, for 2021 and 2020. Include the change from 2020 to 2021. EXTRA SURPLUS COMPANY Balance Sheet at December 31, 2021 2021 2020 Change Cash $ 15,500 Accounts Receivable 18,250 7.750 10,500 Inventory 12,300 18,600 (6,300) Property and Equipment 41,500 31,000 10,500 $ 72,050 $ 72,850 Accounts Payable $ 4,450 $ 15,500 (11,050) Notes Payable (long-term) 5,650 7.750 (2.100) Common Stock 52,000 31,000 21,000 Retained Earnings 26,950 18,600 8,350 $ 89,050 $ 72,850 Required Required B > Complete this question by entering your answers in the tabs below. Required A Required B Prepare the statement of cash flows using the direct method. (Enter any deductions and cash outflows as a negative va EXTRA SURPLUS COMPANY Statement of Cash Flows Year Ended December 31, 2021 Cash Flows from Operating Activities: Cash collected from customers Cash paid for interest Cash paid to employees Cash paid to suppliers of inventory $ 16,800 (2,100) (6,300) (12.100) (3,700) Net cash used in operating activities Cash Flows from Investing Activities: Proceeds from sale of land Purchase of land 10,500 (21,000) (10,500) Net cash used in investing activities Cash Flows from Financing Activities: Payment of cash dividends Payments on long-term debt Proceeds from issuing common stock (3,200) (2.100) 21,000 Not cash provided by financing activities Net increase in cash during the year Cash and cash equivalents, beginning of period 15,700 1,500 15.500