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also prepare a balance sheet. explanations are greatly appreciated! :) Sarasota Corporation's balance sheet at the end of 2019 included the following items. Current assets

also prepare a balance sheet. explanations are greatly appreciated! :) image text in transcribed
Sarasota Corporation's balance sheet at the end of 2019 included the following items. Current assets (Cash $82,000) $236,420 Land 31,740 Buildings 121.420 Equipment 91,740 Accum. depr.-buildings (31,420) Accum. depr.-equipment (11,000) Patents 41,420 Total $480,320 Current liabilities $151,420 Bonds payable 101,420 Common stock 181,740 Retained earnings 45,740 Total $480,320 The following information is available for 2020. 1. Net income was $53,490. 2. Equipment (cost $21,420 and accumulated depreciation $9.420) was sold for $11.420. 3. Depreciation expense was $5,420 on the building and $10.420 on equipment. 4. Patent amortization was $2,500. 5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,420. 6. An addition to the building was completed at a cost of $28.420. 7. A long-term investment in stock was purchased for $16,000. 8. Bonds payable of $51.740 were issued. 9. Cash dividends of $30,000 were declared and paid. 10. Treasury stock was purchased at a cost of $11,000. Prepare a statement of cash flows for 2020. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis eg. (15

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