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A comparative balance sheet for Cullumber Corporation is presented below. December 31 Assets 2020 2019 Cash $87,040 $28,160 Accounts receivable 104,960 84,480 Inventory 217,600 241,920
A comparative balance sheet for Cullumber Corporation is presented below.
December 31 | ||||
Assets | 2020 | 2019 | ||
Cash | $87,040 | $28,160 | ||
Accounts receivable | 104,960 | 84,480 | ||
Inventory | 217,600 | 241,920 | ||
Land | 90,880 | 140,800 | ||
Equipment | 358,400 | 256,000 | ||
Accumulated depreciationequipment | (94,720) | (53,760) | ||
Total | $764,160 | $697,600 | ||
Liabilities and Stockholders Equity | ||||
Accounts payable | $43,520 | $60,160 | ||
Bonds payable | 192,000 | 256,000 | ||
Common stock ($1 par) | 209,920 | 209,920 | ||
Retained earnings | 318,720 | 171,520 | ||
Total | $764,160 | $697,600 |
Additional information:
1. | Net income for 2020 was $198,400; there were no gains or losses. | ||
2. | Cash dividends of $51,200 were declared and paid. | ||
3. | Bonds payable of $64,000 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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