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Assets 2021 2020 Cash $ 64,000 $0 Accounts receivable 17.000 33,000 Inventory 35,000 59.000 Land 97.000 109,000 Buildings 517.000 258.000 Accumulated depreciation-buildings (74,000 (99.000) Equipment
Assets 2021 2020 Cash $ 64,000 $0 Accounts receivable 17.000 33,000 Inventory 35,000 59.000 Land 97.000 109,000 Buildings 517.000 258.000 Accumulated depreciation-buildings (74,000 (99.000) Equipment 85.000 45.000 Accumulated depreciation-equipment (23.000 (12.000) Total assets $718.000 $393.000 Liabilities and Shareholders' Equity Bankoverdrer $0 $8.000 Accounts payable $47.000 $ 25.000 Income tax cavable 3.000 interest peable 5.000 Dividends payable 3.000 1.000 Bank loan payable current portion 25.000 25.000 Bank loan payable-non-current portion 84000 204 odia Common shares 2016 Dou 92.000 Retained Earnings 48.000 9002 ype here to search - 124 1 DETIK TUA PayzuU-UUTTELUT LUTT DOU que Common shares 203.000 92,000 Retained earnings 48.000 30,000 Total liabilities and shareholders' equity $718.000 $393.000 Additional information regarding 2021: Net income was $55.000. Again of $8.000 was recorded on the disposal of a small parcel of land. No land was purchased during the year. A gain on the disposal of $39.000 was recorded when an old building was sold for $55.000 cash. A new building was purchased for $360,000 and depreciation expense on buildings for the year was $60,000. 2 Equipment eesting $54.000 was purchased while a loss of $8,000 was recorded on equipment that was sold late in the year had accumulated depreciation of $11 000. was sold for $5.000. The The company took out $212000 of new bank loans during the wear Dividends were declared and paid and no common shares were bought back by the company Precere the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sigin eig. 15.000 prin parenthesis eg. (15,000)
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