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Antique Accents reported the following on its 2020 income statement. Using the income statement and the balance sheet given below, prepare the statement of
Antique Accents reported the following on its 2020 income statement. Using the income statement and the balance sheet given below, prepare the statement of cash flows using the indirect method. For simplicity, ignore the required supplementary disclosures for cash flows associated with interest paid and received, dividends paid and received and income taxes as well as any non-cash disclosures that may have occurred in the current year. Be sure to include the two subheadings in the operating activities section regarding the adjustments to net income for non-cash items and the cash in (out) from the working capital accounts. Please make sure your final answer(s) are accurate to 2 decimal places. Analysis of accounts: a. Retired bonds, paid $11,000 cash. b. Bought investments in bonds in Apex Consulting common shares for $3,500 cash. c. Purchased equipment, and settled in cash. d. Purchased additional highly liquid trading investment, $15,500 cash. Note: This company's trading investments are not subject to a significant amount of risk and are considered a cash equivalent. e. Paid cash dividends. f. Retired common shares, 600 shares at $10 cash per share. g. Changes in other balance sheet accounts resulted from usual transactions and events.
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