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A comparative balance sheet for Carla Vista Corporation is presented below. December 31 Assets 2020 2019 Cash $65,280 $21,120 Accounts receivable 78,720 63,360 Inventory 163,200
A comparative balance sheet for Carla Vista Corporation is presented below.
December 31 | ||||
Assets | 2020 | 2019 | ||
Cash | $65,280 | $21,120 | ||
Accounts receivable | 78,720 | 63,360 | ||
Inventory | 163,200 | 181,440 | ||
Land | 68,160 | 105,600 | ||
Equipment | 268,800 | 192,000 | ||
Accumulated depreciationequipment | (71,040) | (40,320) | ||
Total | $573,120 | $523,200 | ||
Liabilities and Stockholders Equity | ||||
Accounts payable | $32,640 | $45,120 | ||
Bonds payable | 144,000 | 192,000 | ||
Common stock ($1 par) | 157,440 | 157,440 | ||
Retained earnings | 239,040 | 128,640 | ||
Total | $573,120 | $523,200 |
Additional information:
1. | Net income for 2020 was $148,800; there were no gains or losses. | ||
2. | Cash dividends of $38,400 were declared and paid. | ||
3. | Bonds payable of $48,000 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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