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3. The following information is available for the Roots Heritage Corp. for the year ended Dec. 31, 2020: Collection of principal on long term
3. The following information is available for the Roots Heritage Corp. for the year ended Dec. 31, 2020: Collection of principal on long term loan to a supplier. Acquisition of equipment for cash *** Proceeds from sale of long-term investment at book value Issuance of common stock for cash Depreciation expense.... Redemption of bonds at carrying (book) value Payment of cash dividends $35,000 10,000 27,000 20,000 25,000 24,000 9,000 30,000 40,000 Net income Purchase of land by issuing bonds payable In addition, the following information is available from the comparative balance sheet for 2020 & 2019: Total current assets Cash 2020 $102,000 2019 $ 14,000 Accounts receivable (net)... 20,000 Prepaid insurance............ 17.000 $139.000 15,000 13.000 $ 42,000 $ 25,000 4,000 $ 29,000 Accounts payable Salaries payable Total current liabilities $ 19,000 7,000 $ 26,000 Instructions Prepare a statement of cash flows using the indirect method. (17 pts.)
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