Below are the financial statements for Patterson Suits for December 31, 2021, and some additional information....

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Below are the financial statements for Patterson Suits for December 31, 2021, and some additional information. Based on the information provided, prepare the Statement of Cash Flows. (22 marks) Patterson Suits Income Statement For the year ending December 31, 2021 Sales revenue 338,950 Expenses Salaries expense 198,300 Insurance expense 4,800 Depreciation expense 17.750 Bad debt expense 200 Supplies expense 200 Utilities expense 4,800 Rent expense 18,000 Total expenses 244,050 Net income 94,900 Patterson Suits Statement of Changes in Equity For the year ending December 31, 2021 Share capital Ret. Earnings Total Jan 1, 2021 10,000 18,000 28,000 Issued shares Net income 94,900 94,900 Dividends (10,000) (10,000) Dec 31, 2021 10,000 102,900 112,900 Tim Below are the financial statements for Patterson Suits for December 31, 2021, and some additional information. Based on the information provided, prepare the Statement of Cash Flows. (22 marks) Patterson Suits Income Statement For the year ending December 31, 2021 Sales revenue 338,950 Expenses Salaries expense 198,300 Insurance expense 4,800 Depreciation expense 17.750 Bad debt expense 200 Supplies expense 200 Utilities expense 4,800 Rent expense 18,000 Total expenses 244,050 Net income 94,900 Patterson Suits Statement of Changes in Equity For the year ending December 31, 2021 Share capital Ret. Earnings Total Jan 1, 2021 10,000 18,000 28,000 Issued shares Net income 94,900 94,900 Dividends (10,000) (10,000) Dec 31, 2021 10,000 102,900 112,900 Tim

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To prepare the Statement of Cash Flows for Patterson Suits for the year ending December 31 2021 we n... View the full answer