The Technology Corporation sells computers, computer monitors, printers, and related accessories. Using the Technology Corporations following comparative Balance Sheets at December 31, 2021 and December 31, 2020, its IncomeStatement for the year ended December 31, 2021, and its Additional Information for 2021 prepare in good form its Statement of Cash Flows for the year ended December 31, 2021. Assume the corporation uses the indirect method for its Cash Flows from Operating Activities section of its Statement of Cash Flows.

Additional information for 2021:

1)The company purchased available-for-sale debt securities for cash. The company did not sell any of its available-for-sale securities during 2021.

2)Equipment was sold for cash.

3) Equipment in the amount of $39,000 was purchased for cash.

4) The company constructed an addition to its building in the amount of $350,000. The company paid a $50,000 cash payment with the balance due on a long-term notes payable. The company did not have any other additional borrowings during 2021 in the form of a long-term note payable. However, it did make payments on its long-term notes payable during 2021.

5) Land was sold for cash. No additional land was purchased.

6) The short-term note payable was not used for the purchase of inventory.

7) The company paid $51,000 on its short-term notes payable and borrowed additional funds under short-term notes payable.

8)The company issued the common stock for cash.

9)The company paid cash dividends.

NOTE: Everything is right

Technology Corporation Balance Sheets December 31, 2021 and December 31, 2020 2021 2020 Increase/Decrease) Assets: Cash Trading debt securities Available-for-sale debt securities Accounts receivable Interest receivable Inventory Notes receivable, due April 30, 2024 Land Building Accumulated depreciation - building Equipment Accumulated depreciation - equipment Patent Total assets $ 36,500 11,500 8,300 56,700 400 83,400 15,000 410,000 920,000 (184,800) 137,500 (58,400) 32,500 $1,468,600 $ 27,500 0 21,000 72,900 0 51,600 o 275,000 920,000 (151,200) 131,900 (52,600) 35,000 $1,331,100 $9,000 11,500 (12,700) (16,200) 400 31,800 15,000 135,000 0 33,600 5,600 5,800 (2,500) Liabilities and Stockholders' Equity: Accounts payable Wages payable Interest payable Notes payable Preferred stock, 8%, $100 par Common stock, $5 par Add'l. paid-in capital - common stock Retained earnings Treasury stock Total liabilities & stockholders' equity $56,200 8,300 13,450 915,000 16,400 43,000 198,450 224,800 7,000 $1,468,600 $31,300 3,650 15,600 933,000 12,000 35,000 159,250 141,300 0 $1,331,100 $24,900 4,650 (2,150) (18,000) 4,400 8,000 39,200 83,500 7,000 Technology Corporation Income Statement For the Year Ended December 31, 2021 $1,249,000 501.000 748,000 590,500 157,500 Sales Cost of goods sold Gross profit Operating expenses, including depreciation expense -building of $33,600; depreciation expense - equipment of $10,300, and amortization expense of $2,500 Income from operations Other revenues and gains: Gain on sale of available-for-sale debt securities Unrealized holding gain - trading debt securities Interest revenue Other expenses and losses: Loss on sale of equipment Interest expense Excess of other expenses over other revenues Income before income taxes Less income tax expense Net income 3,100 300 1,800 (2,700) (32,600) (30,100) 127,400 (25,500) $101,900 Technology Corporation Balance Sheets December 31, 2021 and December 31, 2020 2021 2020 Increase/Decrease) Assets: Cash Trading debt securities Available-for-sale debt securities Accounts receivable Interest receivable Inventory Notes receivable, due April 30, 2024 Land Building Accumulated depreciation - building Equipment Accumulated depreciation - equipment Patent Total assets $ 36,500 11,500 8,300 56,700 400 83,400 15,000 410,000 920,000 (184,800) 137,500 (58,400) 32,500 $1,468,600 $ 27,500 0 21,000 72,900 0 51,600 o 275,000 920,000 (151,200) 131,900 (52,600) 35,000 $1,331,100 $9,000 11,500 (12,700) (16,200) 400 31,800 15,000 135,000 0 33,600 5,600 5,800 (2,500) Liabilities and Stockholders' Equity: Accounts payable Wages payable Interest payable Notes payable Preferred stock, 8%, $100 par Common stock, $5 par Add'l. paid-in capital - common stock Retained earnings Treasury stock Total liabilities & stockholders' equity $56,200 8,300 13,450 915,000 16,400 43,000 198,450 224,800 7,000 $1,468,600 $31,300 3,650 15,600 933,000 12,000 35,000 159,250 141,300 0 $1,331,100 $24,900 4,650 (2,150) (18,000) 4,400 8,000 39,200 83,500 7,000 Technology Corporation Income Statement For the Year Ended December 31, 2021 $1,249,000 501.000 748,000 590,500 157,500 Sales Cost of goods sold Gross profit Operating expenses, including depreciation expense -building of $33,600; depreciation expense - equipment of $10,300, and amortization expense of $2,500 Income from operations Other revenues and gains: Gain on sale of available-for-sale debt securities Unrealized holding gain - trading debt securities Interest revenue Other expenses and losses: Loss on sale of equipment Interest expense Excess of other expenses over other revenues Income before income taxes Less income tax expense Net income 3,100 300 1,800 (2,700) (32,600) (30,100) 127,400 (25,500) $101,900