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1. Lucy, Inc. has the following comparative balance sheet data available: 12/31/2020 12/31/2019 Cash $30,000 $80,000 Accounts Receivable, net 160,000 100,000 Inventory 100,000 70,000 Prepaid

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1. Lucy, Inc. has the following comparative balance sheet data available: 12/31/2020 12/31/2019 Cash $30,000 $80,000 Accounts Receivable, net 160,000 100,000 Inventory 100,000 70,000 Prepaid Rent 20.000 10.000 Total Current Assets $310,000 $260,000 Equipment $400,000 $200,000 Accumulated Depreciation (60.000) (50.000) Total Assets $650.000 $410.000 Accounts Payable $50,000 $40,000 Salaries Payable 40,000 40,000 Bonds Payable 50,000 Common Stock $10 par 350,000 100,000 Retained Earnings 210.000 180.000 Total Liabilities & Stockholders' Equity $650,000 $410.000 Additional information: 1. The company reports net income of $100,000 and depreciation expense of $20,000 for the year ending December 31, 2020, 2. Dividends declared and paid in 2020, $70,000. 3. Equipment with a cost of $20,000 and accumulated depreciation of $10,000 was sold for $3,000. 4. New equipment was purchased for cash. 5. No common stock was retired during 2020. Using the indirect method, determine the net cash provided by operating activities

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