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18 asked Tor each one. Problem 3 The comparative balance sheets for Hamilton Inc. appear below: Assets Dec 31, 2020 Dec. 31, 2019 $29.000 23,000
18 asked Tor each one. Problem 3 The comparative balance sheets for Hamilton Inc. appear below: Assets Dec 31, 2020 Dec. 31, 2019 $29.000 23,000 6.000 25,000 0 Cash Trade receivables Prepaid expenses Inventory Long-term investments Equipment Accumulated depreciation-scuipment Total assets Liabilities and Shareholders Equity Trade payables Mortgage notes payable Common shares Retained earnings Total liabilities and shareholders Equity $10,000 14.000 9,000 15,000 23,000 30.000 (14.000 $87 000 57,000 118.000 $122.000 59.000 45.000 521,000 37,000 40.000 24.000 $122.000 23.000 10.000 $87 000 Additional information: 1. Net income for the year ending December 31, 2020 were $27,000. 2. Cash dividends of $13,000 were declared and paid during the year ended December 31 2020. 3. Long-term investments that had a carrying amount of $23,000 were sold for $18,000 in 2020. Prepare only the cash flow from operating activities for the year ended Dec 31, 2020 using the indirect method
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