Q5: A portion of Howe com. Balance sheet appears below: Howe com. pays for all operating expenses with cash, and purchases all inventory on credit. During 2021, cash totaling 471700$ was Paid on Accounts payable. Operating expenses for 2021 foff/_ppzh totaled 220000 \$. All sales are cash sales. The com. Purchased 1500 units for each month at 32.6$ per unit in January 2021 and increased 0.1 \$per unit for each month later. Sales price during 2021 is 50$ per unit. The ending inventory for 2020 was valued at 32.5$ per unit. Required: 1) Compute the number of units sold during 2021. 2) Compute the Dec.31, 2021 amount payable balance. 3) Compute the beginning inventory quantity. 4) Compute the ending inventory 2021 quantity and value. 5) Prepare an income statement for 2021 (including a detailed cost of goods sold section) Q5: A portion of Howe com. Balance sheet appears below: Howe com. pays for all operating expenses with cash, and purchases all inventory on credit. During 2021, cash totaling 471700$ was Paid on Accounts payable. Operating expenses for 2021 foff/_ppzh totaled 220000 \$. All sales are cash sales. The com. Purchased 1500 units for each month at 32.6$ per unit in January 2021 and increased 0.1 \$per unit for each month later. Sales price during 2021 is 50$ per unit. The ending inventory for 2020 was valued at 32.5$ per unit. Required: 1) Compute the number of units sold during 2021. 2) Compute the Dec.31, 2021 amount payable balance. 3) Compute the beginning inventory quantity. 4) Compute the ending inventory 2021 quantity and value. 5) Prepare an income statement for 2021 (including a detailed cost of goods sold section)