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17 Grades) The following comparative balance sheets 2019 & 2020 and additional information for National Company are given Assets Dec. 31. Des 31. 2020 2019
17 Grades) The following comparative balance sheets 2019 & 2020 and additional information for National Company are given Assets Dec. 31. Des 31. 2020 2019 Cash $156,000 $26.000 Accounts Receivable 52,000 48.000 Inventory and supplies 30.000 58,000 Investments 0 36.000 Machines 114,000 104.000 Accumulated depreciation Machines (28.000) (20.000) Total Assets $324,000 $252.000 Liabilities & Stockholders' Equity Note payable Bonds payable (long-term) Common Stock Retained Earnings Total Liabilities & Stockholders! Equity $ 74,000 74,000 80,000 96.000 $324,000 $ 54,000 94.000 44,000 60.000 $252.000 Income Statement & Additional information: Earnings Total Liabilities & Stockholders Equity W.000 96.000 $324.000 44.000 60.000 $252.000 Income Statement & Additional Information: 1. Net income for the current year ending December 31, 2020 is $58,000 2. Sold investments for cash, cost $36,000 and resulting in $6,000 gain, 3. The only changes affecting retained earnings are net income and cash dividends paid. 4. All the following transactions are in cash: Purchased new machines, repay bonds payable, and common rock Required: Prepare the full statement of cash flows using indirect method for the year ended December 31, 2020, (PLEASE PROVIDE EACH AMOUNTIITEM IN A SEPARATE LIN For the toolbar, press ALT+F10 (PC) or ALT EN F10 (Mac)
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