X More info income statement for the together Motors, Inc. Statement ecember 31, 2021 On January 1, 2021, Dazzling issued its common stock for $430,000. Earty in January Dazzling made the following cash payments: a. $160,000 for equipment b. $234,000 for inventory (six cars at $39,000 each) c. $18,000 for 2021 rent on a store building In February, Dazzling purchased four cars for inventory on account Cost of this inventory was $ 192,000 (548,000 each). Before year-end, the company paid off $134 400 of this debt. The company uses the first-in, first-out (FIFO) method to account for its inventory During 2021, Dazzling sold seven autos for a total of $504,000. Before year-end, It had collected 90% of this amount. The business employs two people. The combined annual payroll is $60,000, of which Dazzling owes $7,000 at year-end. At the end of the year, the company paid income taxes of $22,000. Late in 2021, Dazzling declared and paid cash dividends of $19,000. For equipment, Dazzling uses the straight-line depreciation method, over five years, with zero residual value. Print Done alance sheet at Decemt Dazzling Shoot More info - X s together Requirements are Dazzling's income statement for the Dazzling Motors, Inc. Income Statement Year Ended December 31, 2021 1. Prepare Dazzling's income statement for the year ended December 31. 2021. Use the single-step format, with all revenues listed together and all expenses together 2. Prepare Dazzling's balance sheet at December 31, 2021. 3. Prepare Dazzling's statement of cash flows for the year ended December 31, 2021. Format cash flows from operating activities using the direct method Print Done Print Done Dazzling's balance sheet at Decemb Dazzling hours TIG. Read the requirements GE Requirement 1. Prepare Dazzling's income statement for the year ended December 31, 2021. Use the single-step format with all revenues listed together and all expenses together Dazzling Motors, Inc. Income Statement Year Ended December 31, 2021 Revenge Expenses Requirement 2. Prepare Dazzling's balance sheet at December 31, 2021 Dazzling Motors, Inc Balance Sheet December 31, 2021 Read the requirement Requirement 2. Prepare Dazzing's balance sheet of December 31, 2021 Dazzling Motors, Inc Balance Sheet December 31, 2021 Assets Liabilities Current asset Current liabilis Stockholders' equity Property, plant, and equipment Less Requirement 3. Prepare Dazzling's statement of cash flows for the year ended December 31, 2021. Format cash flows from operating activities using the direct method. (Un parent and for a ne decrease inash Enter for oro balances Click the icon to view the transactions) Read the requirements C Requirement 3. Prepare Dazzling's statement of cash flows for the year ended December 31, 2021. Format cash flows from operating activities using the direct method. (Use parentheses or a minus and for a net decrease in cash. Enter "0" for zero balances) Dazzling Motors, Inc. Statement of Cash Flows (Direct Method) Year Ended December 31, 2021 Cash flows from operating activities: Cash payments Total cash payments Net cash provided by (used for) operating activities Net cash provided by (used for) investing activities Cash flows from investing activities: Cash flows from financing activities: ve case provided by (used 101) open acu Cash flows from investing activities: Net cash provided by (used for) investing activities Cash flows from financing activities: Net cash provided by (used for) financing activities Net increase (decrease) in cash