2019 Assets $ 2020 71,000 181.000 $ 7,000 170,000 Cash Accounts receivable Prepaid insurance Inventory Long-term investment Land Buildings and equipment Less: Accumulated Depreciation Total Assets 150,000 110,000 390,000 151,000 170,000 12,000 165,000 90.000 150,000 270,000 (75.000) 933,000 (100.000) 979,000 $ $ 45,000 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable 30,000 3,000 5,000 9,000 8,000 3,000 12,000 50,000 100,000 160,000 290,000 85,000 Shareholders' Equity Common stock, $1 par Paid-in-capital - excess of par Treasury stock Retained earnings Total Liabilities and Shareholders' Equity$ 320,000 205,000 (10,000) 257000 979,000 340.000 933,000 $ Retained earnings Total Liabilities and Shareholders' Equity $ 257.000 979,000 340.000 933,000 $ $ 320,000 125,000 55,000 25,000 7,000 Revenues Sales Revenue Expenses Cost of goods sold Salaries expense Depreciation expense Bad debt expense Insurance expense Bond interest expense Loss on sale of land Income before tax Income tax expense Net income 13,000 30,000 10.000 265.000 55,000 22.000 $ 33,000 Additional Information from the accounting records: (a) Land that originally cost $40,000 was sold for $30,000. (b) The common stock of Panther Inc. was purchased for $60,000 as a long-term investment. (c) New equipment was purchased for $120,000 cash. (d) A $50,000 note was paid at maturity on January 1. (e) On January 1, 2020 $60,000 of bonds were issued at face value. (1) Common stock ($20,000 par) was sold for $30,000. (g) In June, Panther Inc. issues a 10% stock dividend (10,000 shares). The market price of the $1 par per share at the time. (h) Net income was $33,000 and cash dividends of $45,000 were paid to shareholders. The Net cash provided by (or used for) operating activities during 2020 was: $43,000 $33,000 $36,000 $38,000 The Cash oud to suppliers during 2020 was: $125.000 5142.000 $130,000 O $145,000 The Net cash provided by (or used for) Investing activities during 2020 was: $(170,000) O $(120,000) $ (150,000) O $(180,000) The Net cash provided by for used for) financing activities during 2020 was: O $(5,000) O $35,000 $30,000 O $(15,000) 2019 Assets $ 2020 71,000 181.000 $ 7,000 170,000 Cash Accounts receivable Prepaid insurance Inventory Long-term investment Land Buildings and equipment Less: Accumulated Depreciation Total Assets 150,000 110,000 390,000 151,000 170,000 12,000 165,000 90.000 150,000 270,000 (75.000) 933,000 (100.000) 979,000 $ $ 45,000 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable 30,000 3,000 5,000 9,000 8,000 3,000 12,000 50,000 100,000 160,000 290,000 85,000 Shareholders' Equity Common stock, $1 par Paid-in-capital - excess of par Treasury stock Retained earnings Total Liabilities and Shareholders' Equity$ 320,000 205,000 (10,000) 257000 979,000 340.000 933,000 $ Retained earnings Total Liabilities and Shareholders' Equity $ 257.000 979,000 340.000 933,000 $ $ 320,000 125,000 55,000 25,000 7,000 Revenues Sales Revenue Expenses Cost of goods sold Salaries expense Depreciation expense Bad debt expense Insurance expense Bond interest expense Loss on sale of land Income before tax Income tax expense Net income 13,000 30,000 10.000 265.000 55,000 22.000 $ 33,000 Additional Information from the accounting records: (a) Land that originally cost $40,000 was sold for $30,000. (b) The common stock of Panther Inc. was purchased for $60,000 as a long-term investment. (c) New equipment was purchased for $120,000 cash. (d) A $50,000 note was paid at maturity on January 1. (e) On January 1, 2020 $60,000 of bonds were issued at face value. (1) Common stock ($20,000 par) was sold for $30,000. (g) In June, Panther Inc. issues a 10% stock dividend (10,000 shares). The market price of the $1 par per share at the time. (h) Net income was $33,000 and cash dividends of $45,000 were paid to shareholders. The Net cash provided by (or used for) operating activities during 2020 was: $43,000 $33,000 $36,000 $38,000 The Cash oud to suppliers during 2020 was: $125.000 5142.000 $130,000 O $145,000 The Net cash provided by (or used for) Investing activities during 2020 was: $(170,000) O $(120,000) $ (150,000) O $(180,000) The Net cash provided by for used for) financing activities during 2020 was: O $(5,000) O $35,000 $30,000 O $(15,000)