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A comparative balance sheet for Talkington Corporation is presented below. December 31 2020 2019 Assets Cash $ 68,000 $ 22.000 Accounts receivable 82.000 66,000 Inventory
A comparative balance sheet for Talkington Corporation is presented below. December 31 2020 2019 Assets Cash $ 68,000 $ 22.000 Accounts receivable 82.000 66,000 Inventory 170,000 189.000 Land 71.000 110.000 Equipment 280.000 200,000 Accumulated depreciation-equipment Total (74,000) $597.000 (42,000) $545,000 Liabilities and Stockholders' Equity Accounts payable $ 34,000 $ 47,000 Bonds payable Common stock (51 par) Retained earnings Total 150.000 164,000 249,000 $597,000 200,000 164.000 134,000 $545,000 Additional information: 1. Net income for 2020 was $155,000; there were no gains or losses. 2. Cash dividends of $40,000 were declared and paid. 3. Bonds payable of $50,000 were retired. Instructions: Compute each of the following: 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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