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A comparative balance sheet for Sheridan Corporation is presented below. December 31 Assets 2020 2019 $77,520 $25,080 Cash Accounts receivable 75,240 93.480 Inventory 193,800 215,460
A comparative balance sheet for Sheridan Corporation is presented below. December 31 Assets 2020 2019 $77,520 $25,080 Cash Accounts receivable 75,240 93.480 Inventory 193,800 215,460 Land 125.400 80,940 Equipment 319.200 228,000 Accumulated depreciation-equipment (47,880) (84,360) $680,580 Total $621,300 Liabilities and Stockholders' Equity $38,760 $53,580 Accounts payable Bonds payable Common stock ($1 par) 171.000 228.000 186,960 186,960 Retained earnings 283,860 152,760 Total $680,580 $621,300 Additional information: 1. Net income for 2020 was $176,700; there were no gains or losses. 2. Cash dividends of $45,600 were declared and paid. 3. Bonds payable of $57,000 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).) Net cash provided by operating activities 230280 1. 2 Net cash provided (used) by investing activities $ 3. Net cash provided (used) by financing activities $
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