The ULTIMATE TESTING COMPANY BALANCE SHEETS Movember 30, 2021 and November 30, 2020 11/30/2021 11/30/2020 $ ASSETS: CASH ACCOUNTS RECEIVABLE (NET) INVENTORY PREPAID INSURANCE PLANT ASSETS ACCUMULATED DEPRECIATION 85 $ 33 48 37 20 38 2 4 93 -32 229 $ 76 -30 TOTAL ASSETS $ 145 $ 45 $ 18 2 7 LIABILITIES AND EQUITY ACCOUNTS PAYABLE SALARIES PAYABLE INTEREST PAYABLE DIVIDENDS PAYABLE BONDS PAYABLE COMMON STOCK 2 7 3 27 60 45 40 45 The ULTIMATE TESTING COMPANY STATEMENT OF INCOME For the Year Ended November 30, 2021 290 Revenue: Sales Gain on Sale of Assets Total Revenue 8 298 105 Expenses and Losses: Cost of Goods Sold Salaries Depreciation Insurance Interest Taxes 59 9 30 4 27 $ 234 Net Income $ 64 SALARIES PAYABLE INTEREST PAYABLE DIVIDENDS PAYABLE BONDS PAYABLE COMMON STOCK RETAINED EARNINGS 2 3 27 60 45 7 2 7 40 45 26 47 TOTAL LIABILITIES AND EQUITY 229 $ 145 Additional information: 1. Plant Assets with a book value of $10 were sold during the year. Note the "Gain on Sale of Assets" on the Income Statement! Instructions: 1. Prepare a Statement of Cash Flows (using the Indirect method to present the operatiing activities)