10 TUNJ JU LU ule method used in class. For example: Cash received from customers $ Cash paid for inventory $ Net cash flow from operating activities $ Use a similar method to summarize investing activities and financing activities. When you have calculated all cash flows, fill in the blanks at the bottom of the backside of this page. Attach your work to this page showing how cash flows were calculated. NO WORK - NO CREDIT. Additional information: 1. The company declared and paid a cash dividend this year. 2. Bonds were repaid during the year in the amount of $5,950. 3. Equipment was sold this year for $1,190. The equipment had an original cost of $2,210 and had $680 in accumulated depreciation on the date of sale. 4. Long-term investments were sold during the year. These investments had a cost of $850 when purchased several years ago. 5. The subsidiaries did not repay any outstanding loans during the year. 6. The company did not repurchase any of its own stock during the year. I attest with my signature below that the attached comprehensive problem represents only my own work. I received no assistance from any other person, nor did I assist any other person on this assignment. Signature Date ACCT2020-03 Spring 2020 2018 Comparative Balance Sheet 2019 Assets Current assets: Cash $1.037 Accounts receivable 12,070 Inventory 14,416 Prepaid expenses 170 Total current assets 27 693 $680 9.010 14 620 24,395 Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment 53.890 13.770 40,120 44,200 12 835 31,366 Long-term Investments Loans to subsidiaries (notes receivable) Total assets 1,020 3,638 $72,471 1,870 2.890 $80,620 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities $16,490 1.105 $11,390 1.394 1.350 14,144 19.210 13.940 33,150 10,200 24 344 Bonds payable Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 28.050 29,580 9.741 39,321 $72.471 4.125 36,176 $60,520 Income Statement 2019 $34,000 22. 100 11,900 8.330 3,570 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of investments Loss on sale of equipment Income before taxes Income tax expense Net income 1,020 (340) 4.250 1,360 $2,890 Net cash flows from operating activities - (1940 Net cash flows from investing activities Net cash flows from financing activities Total net cash flows 10 TUNJ JU LU ule method used in class. For example: Cash received from customers $ Cash paid for inventory $ Net cash flow from operating activities $ Use a similar method to summarize investing activities and financing activities. When you have calculated all cash flows, fill in the blanks at the bottom of the backside of this page. Attach your work to this page showing how cash flows were calculated. NO WORK - NO CREDIT. Additional information: 1. The company declared and paid a cash dividend this year. 2. Bonds were repaid during the year in the amount of $5,950. 3. Equipment was sold this year for $1,190. The equipment had an original cost of $2,210 and had $680 in accumulated depreciation on the date of sale. 4. Long-term investments were sold during the year. These investments had a cost of $850 when purchased several years ago. 5. The subsidiaries did not repay any outstanding loans during the year. 6. The company did not repurchase any of its own stock during the year. I attest with my signature below that the attached comprehensive problem represents only my own work. I received no assistance from any other person, nor did I assist any other person on this assignment. Signature Date ACCT2020-03 Spring 2020 2018 Comparative Balance Sheet 2019 Assets Current assets: Cash $1.037 Accounts receivable 12,070 Inventory 14,416 Prepaid expenses 170 Total current assets 27 693 $680 9.010 14 620 24,395 Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment 53.890 13.770 40,120 44,200 12 835 31,366 Long-term Investments Loans to subsidiaries (notes receivable) Total assets 1,020 3,638 $72,471 1,870 2.890 $80,620 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities $16,490 1.105 $11,390 1.394 1.350 14,144 19.210 13.940 33,150 10,200 24 344 Bonds payable Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 28.050 29,580 9.741 39,321 $72.471 4.125 36,176 $60,520 Income Statement 2019 $34,000 22. 100 11,900 8.330 3,570 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of investments Loss on sale of equipment Income before taxes Income tax expense Net income 1,020 (340) 4.250 1,360 $2,890 Net cash flows from operating activities - (1940 Net cash flows from investing activities Net cash flows from financing activities Total net cash flows