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The balance sheet totals for December 31, 2020 and 2021 are recorded below. (Do not mix up the years.) Other information follows: 1 Net income for the year: $ 2.200. 2 Dividends issued and paid in the year: $200 3. Land was sold in the year for $5,000 cash. MBL took advantage of the seller's market and disposed of all the land they owned 4 Equipment was purchased in the year, as well as a patent intangible asset). No equipment was sold in the year. Required: 1. Prepare in good form a cash flow statement using the indirect method for 2021. Do not get the years mixed up 2. Assume that you are the accountant/controller of MBLThe Chief Eecutive Officer of the company e-mail you and writes, "We need to celebratel What a great yeart looked at our bank statement and our cashles gone way up! Also, I noticed that we made $2,020 in the year abg increase from the prior wear out out the champagne Should you feel as excited as the CEO? Wiw or why not? Prepare brief notes to use when you discuss your findings with the CEO. (The balances, of accounts, and transaction amts, are small for exam purposes.) Balance Sheet Assets 2021 2020 Current assets Cath 30.900 51 000 Accounts receivable 500 1.500 600 $ 8.000 500 $ 3.000 Inventory Total current assets Non-current asset Equipment Less: Accumulated dep'n Land Patent (Intangible) Total non-current assets Total assets $7,000 (2.400) $ 6,500 (2,000) 500 0 400 5.5.000 $ 13.000 $ 5.000 $.8.000 Liabilities Current abilities $2,000 $1.000 2.000 $ 4,000 $1.000 Accounts payable Non-current abilities Note payable Total liabilities Shareholders' equity Common shares Retainedestings Total shareholders' equity $ 1.000 $ 1.000 0.000 59.002 0.000 57.000 18.XID Total lab and sequity 5.000

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