Virtage Motons, inc, was formed on January 1, 2021. The following transactons occurred during 2021: (i) (Clok the icon to view the transactions). Fiead the reaulnmerts Requirement 1. Prepare Vintage's income statement for the year ended December 31, 2021. Use the single-step format, wth all revenuts listed togother and at expenses together. More info On January 1, 2021, Vintage issued iss common stock for 3575,000 . Early in Januar, Vintage made the following cash parymerts: a. 5200.000 for equipment b. $324,000 for inventory (nine cars at $36,000 each) c. $24,000 for 2021 rent on a store bulding In Feberary, Vintage purchased four cars for inventory on account. The cost of this inventory was $192.000 ( 540,000 per car). Before year-end, the compary paid off $134,400 of this debt The company uses the fritin, frst-out (FIFO) method to acoourt for its inventory. During 2021, Vintage sold tan astos for a fotal of $650,000. Before year-end, et had collected 50% of this amount. The business employs sax people. The combined annual payroll is 5150,000 , of which Vintage cowes $1,000 at year-end. At the end of the year, the company paid income taxes of $13.000. Lale io 2021, Vintage declared and paid cash dividends of $10,000. For equipnent. Vintage uses the straight-ine depreciation method, over five years. with zero residual value. The acoounting records of South West Corporation reveal the folowng: (Clek the icon to virw the datas table) Rend the teauirements. Requirement 1. Prepare the cash flows trom operating activites section of the statoment of cash fows using the indirect method. (Use parenthoses or a minus sign foe numbern to be subtracted and for a net decrease in cash.) Data table