Problem $1(38$ marks$)$Betty$\text{'}$s Flowers, began operations on January $1,2023.$ Its post$-$closing trial balance at December $31,2023$ and $2024$ is shown below.Betty's FlowersIncome StatementFor Year Ended December $31,2024$SalesCost of goods soldOperating expenses:Other expensesDepreciation expenseTotal Operating expensesOperating Profit $($Loss$)$Gain on sale of plant assetsProfit before taxesIncome taxesProfit $($Loss$)$os$.$oUU$7,000$Betty's Flowers$126,50066,80059,70072,800(13,100)2,000(11,100)3,400$$$(14,500)$Post$-$Closing Trial BalanceDecember $31$Account$20242023$Cash$$10,600$$$11,800$Accounts Receivable$38,30039,800$Merchandise inventory$35,90025,400$Property, plant and equipment$87,80080,650$Accumulated depreciation$42,00041,500$Accounts payable$26,50014,800$Wages payable$4,6002,300$Income taxes payable$1,8001,650$Notes payable$26,50021,500$Common shares$57,00035,000$Retained earnings$14,20040,900$Other information regarding Betty's Flowers and its activities during $2024$:$1.$ Cash dividends were declared and paid during the year$\mathrm{.}2.$ Plant assets worth $$20,000$ were purchased during the year$\mathrm{.}3.$ Plant assets were sold during the year. $($Hint: you will need to look at the capital asset account and accumulated depreciation. Then you'll need to calculate the proceeds.$)4.$ Issued a new note payable$\mathrm{.}5.$ Common shares were issued during the year.Required$1.$ Prepare a statement of cash flows for the year ended December $31,2024\mathrm{.}2.$ Prepare t$-$accounts for all investing and financing accounts.