The following information is provided for Wildhorse's Chocolate Company: WILDHORSE CHOCOLATE COMPANY Balance Sheet May 31 Assets 2021 Cash $28,675 Accounts receivable 89,350 Inventory 186,000 Prepaid expenses 6,100 Land 138,250 Equipment 321,000 Accumulated depreciation equipment (79,200 Total assets $690,175 Liabilities and Shareholders' Equity Accounts payable $43,150 Dividends payable 7,600 Income taxes payable 3.300 Mortgage payable 133,000 Common shares 219,500 Retained earnings 283,625 Total liabilities and shareholders' equity $690,175 2020 $47,250 79,250 160,250 7,600 80,500 201,000 (40,250 $535,600 $40,250 6,100 7,100 80,250 166,250 235,650 $535,600 Additional Information: 1. Profit for 2021 was $111,225. 2. Common shares were issued for $53,250. 3. Land with a cost of $53,250 was sold at a loss of $20,100. Purchased land with a cost of $111,000 with a $58,250 down payment and financed the remainder with a mortgage note 4. payable. 5. No equipment was sold during 2021. 6. Net sales for the year were $675,200. 7. Cost of goods sold for the year was $401,400. 8. Operating costs, including depreciation expense, were $99,300. 9. Interest expense was $6,100. 10. Income tax expense was $37,075. 11. Accounts payable is used for merchandise purchases. Prepare a cash flow statement for the year using the direct method. (Show amounts that decrease cash flow with either a-signe.g. -15,000 or in parenthesis e.g. (15,000).) WILDHORSE CHOCOLATE COMPANY Cash Flow Statement - Direct Method $ $ $ $ $ Note X: Land with a cost of $ was purchased by paying $ cash and issuing a mortgage note payable for $