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A comparative balance sheet for Carla Vista Corporation is presented below. December 31 Assets 2020 2019 Cash $80,240 $25,960 Accounts receivable 96,760 77,880 Inventory 200,600
A comparative balance sheet for Carla Vista Corporation is presented below.
December 31 | ||||
Assets | 2020 | 2019 | ||
Cash | $80,240 | $25,960 | ||
Accounts receivable | 96,760 | 77,880 | ||
Inventory | 200,600 | 223,020 | ||
Land | 83,780 | 129,800 | ||
Equipment | 330,400 | 236,000 | ||
Accumulated depreciationequipment | (87,320) | (49,560) | ||
Total | $704,460 | $643,100 | ||
Liabilities and Stockholders Equity | ||||
Accounts payable | $40,120 | $55,460 | ||
Bonds payable | 177,000 | 236,000 | ||
Common stock ($1 par) | 193,520 | 193,520 | ||
Retained earnings | 293,820 | 158,120 | ||
Total | $704,460 | $643,100 |
Additional information:
1. | Net income for 2020 was $182,900; there were no gains or losses. | ||
2. | Cash dividends of $47,200 were declared and paid. | ||
3. | Bonds payable of $59,000 were retired. |
Compute each of the following: (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
1. | Net cash provided by operating activities | $ | ||
2. | Net cash provided (used) by investing activities | $ | ||
3. | Net cash provided (used) by financing activities | $ |
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