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Question 1 Shark Ltd was organized on February 1, 2020. For the year exed January...

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Question 1 Shark Ltd was organized on February 1, 2020. For the year exed January 31, 2021, the company provided the following data: Income statement Sales revenue $ 80,000 Cost of goods sold (35,000) Depreciation expense (4,000) Remaining expenses (32,000) Net income 9000 Balance sheet: Cash Accounts receivable Merchandise inventory Machinery (net) Total assets S48.000 18,000 15,000 25,000 $106,000 Accounts payable Accrued expenses payable Dividends payable Note payable, short-term Common stock Retained earnings Total tibilities and shorcholders equity. S 10,000 21.000 2,000 15.000 54,000 4,000 S106.000 Analysis of selected accounts and transactions a. Sold 3,000 shares of common stock at $18 per shere. b. Bowed 15,000 on a one-year, 8% interest-bearing note: the note was cated June 1, 2020, c. During 2020, purchased machinay, prid S29,000 d. Purchesa nerchurwise for restle at a cost of $50,000 (ketvited Inventory because the perpetual system is usedy paid $40,000 cash, balance credited to Accounts Payable. e On December 3,2020, declared a cash divickend of 85,000 paid $3,000 in December 2020, the balance will be paid March 1, 2021. Required: Prepare the Statement of Cash Flow

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