ABUBA CORPORATION

Comparative Statement of Financial Position

December 31, 2020

2020 2019

Equipment $ 60,000 $ 70,000

Accumulated depreciation (14,000) (10,000)

Investments 25,000 16,000

Accounts receivable 25,200 22,300

Cash 12,200 17,700

Total $108,400 $116,000

Share capital-ordinary $ 50,000 $ 45,000

Retained earnings 33,800 29,900

Bonds payable 10,000 30,000

Accounts payable 14,600 11,100

Total $108,400 $116,000

Additional information:

1. Net income for 2020 is $19,300. Dividends were declared and paid $15,400.

2. Equipment cost $10,000 with accumulated depreciation of $2,200 sold for $3,800.

3. Changes in other non-current assets have an impact on cash flows except depreciation

Required: Prepare a statement of cash flows of Abuba Corporation for the year ended December 31, 2020