The comparative SFP for Cosky Corporation follows: 

Additional information: 

1. Dividends of $15,000 were declared and paid in 2020. 

2. There were no unrealized gains or losses on the FV-NI investments. 

Instructions 

Based on the information, prepare a work sheet for a statement of cash flows using the indirect method. Make reasonable assumptions as appropriate.

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Dec. 31, 2020 Dec. 31, 2019 Cash $ 16,500 $ 21,000 FV-NI investments 25,000 19,000 Accounts receivable 43,000 45,000 Allowance for doubtful accounts (1,800) (2,000) Prepaid expenses 4,200 2,500 Inventory 81,500 65,000 Land 50,000 50,000 Buildings 125,000 73,500 Accumulated depreciation-buildings (30,000) (23,000) Equipment 53,000 46,000 Accumulated depreciation-equipment (19,000) (15,500) Machinery 39,000 39,000 Accumulated depreciation-machinery (22,000) (20,500) Patents 15,000 -0- $379,400 $300,000 Accounts payable $ 26,000 $ 16,000 Short-term notes payable (trade) 4,000 6,000 Accrued liabilities 3,000 4,600 Mortgage payable Bonds payable 73,000 53,400 50,000 62,500 Common shares 150,000 106,000 Retained earnings 73.400 51,500 $379,400 $300,000