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2. The following information is provided for Sunflower Corporation: Sunflower Corporation Assets Cash Marketable Securities Accounts Receivable Inventories Investments Total current assets Plant and Equipment
2. The following information is provided for Sunflower Corporation: Sunflower Corporation Assets Cash Marketable Securities Accounts Receivable Inventories Investments Total current assets Plant and Equipment Less Accumulated Amortization Net plant and Equipment Total Assets Balance Sheet 2019 $45,000 175,000 240,000 230,000 70.000 $760,000 1,300,000 450,000 $850,000 1,610,000 2020 $50,000 160,000 220,000 275,000 55,000 $760,000 1,550,000 600,000 $950,000 1,710,000 Liabilities and Shareholders' Equity Accounts payable Notes payable Accrued Expenses Income Taxes Payable Bonds Payable (2026) Common Stock (100,000 shares) Retained Earnings Total Liabilities and Shareholders' Equity $110,000 65,000 30,000 5,000 800,000 200,000 400,000 $1.610.000 $85,000 10,000 5,000 10,000 900,000 200,000 500,000 $1,710,000 Sunflower Corporation Income Statement For the Year Ended December 31, 2020 Sales Less: Cost of Goods Sold Gross Profit Less: Selling, General & Administrative Expenses Operating profit Less: Amortization Expense Earnings Before Interest and Taxes Less: Interest Expense Earnings Before Taxes Less: Taxes (50%) Net Income $ 5,500,000 4,200,000 1,300,000 260,000 1,040,000 150,000 890,000 90,000 800,000 400,000 $ 400,000 Prepare the statement of cash flows for December 31, 2020 (plz :3 ) 7 Page
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