Problem 1 Selected financial statement information and additional data for Carlson Company is presented below. December 31 2020 2021 DEBITS Cash $42.000 $60,000 Accounts receivable (net) 84,000 144,200 Inventory 168,000 206,600 Land 58,800 26,000 Equipment 504.000 789.600 TOTAL $856.800 $1.226.400 CREDITS Accumulated depreciation Accounts payable Notes payable - short-term Notes payable - long-term. Common stock Retained earnings TOTAL $84,000 50,400 67,200 168,000 420.000 67 200 $856.800 $110,600 91.000 29,400 302,400 487,200 205 800 $1.226.400 Additional data for 2021 1. Net income was $230,200 2. Depreciation was $26,600. 3. Land was sold at its original cost 4 Dividends of $91,600 were paid. 5. Equipment was purchased for $84.000 cash. 6. A long-term note for $201,600 was used to pay for an equipment purchase. 7. Common stock was issued to pay a $67,200 long-term note payable. REQUIRED: On the following page, prepare in good form a Statement of Cash Flows for the year ending December 31, 2021 Carlson Company Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from Operating Activities Net cash provided (used) by Operating Activities Cash flows from Investing Activities Net cash provided (used) by Investing Activities Cash flows from Financing Activities Net cash provided (used) by Financing Activities Net increase (decrease) in cash Cash, January 1, 2021 Cash, December 31, 2021