5 of 6 View Policies < Current Attempt In Progress Pronghorn Inc. had the following balance sheet at December 31, 2019. PRONGHORN INC. BALANCE SHEET DECEMBER 31, 2019 Cash $24,640 Accounts payable $34,640 Accounts receivable 25,840 Notes payable (long-term) 45,640 Investments 36,640 Common stock 104,640 Plant assets (net) 81000 Retained earnings 27,840 Land 44,640 $212,760 $212,760 During 2020, the following occurred. 1. Pronghorn Inc. sold part of its debt investment portfolio for $18,399. This transaction resulted in a gain of $6,799 for the firm. The company classifies these investments as available-for-sale. 2. A tract of land was purchased for $17,640 cash. 3. Long-term notes payable in the amount of $19,399 were retired before maturity by paying $19,399 cash. 4. An additional $23,399 in common stock was issued at par. 5. Dividends of $11.599 were declared and paid to stockholders. 6. Net income for 2020 was $36,640 after allowing for depreciation of $14,399. 7. Land was purchased through the issuance of $39,640 in bonds. At December 31, 2020, Cash was $41,640, Accounts Receivable was $46,240, and Accounts Payable remained at $34,640. Question 5 of 6 8. Prepare a statement of cash flows for 2020. (Show amounts that decrease cash flow with either a-sign eg-15,000 or in parenthesis es (15,000)) PRONGHORN INC. Statement of Cash Flows Adjustments to reconcile net income to > 13 Question 5 of 6 Land purchased through issuance of S of bonds PRONGHORN INC. Balance Sheet Assets Liabilities and Stockholders' Equity $ Compute two cash flow ratios. (Round ratios to 2 decimal places, e.g. 0.62.) Current cash debt coverage ratio :1 Cash debt coverage ratio :1 13