Below is the balance sheet of BLUE Inc. for the years 2019 and 2020.

Cash ....................................................... $ 8,000 Accounts receivable ................................... 10,000 Merchandise inventory ......................... 27,000 Prepaid rent ............................................. 6,000 Equipment ............................................... 110,000* Accumulated depreciation ........................... (40,000) Total assets ............................................. $121,000

9,000

$

$ 20,000 9,000 30,000 2,000 49,000 $110,000

December 31, 2020

Dec. 31, 2019

10,000 12,000 17,000

4,000 80,000

(13,000)

$110,000

Accounts payable ..................................... $ Dividends payable .................................... Common stock ........................................ Additional Paid in Capital, common stock ...... Retained earnings ....................................

6,000 38,000 9,000 59,000 Total liabilities and stockholders equity ... $121,000

* No equipment was sold or retired during 2020. Other information: BLUE Inc. reported the following figures in 2020.

Sales Revenues Cost of Goods Sold Net Income

$960,000 $510,000 $83,000.

Use the information above & calculate: 1. DidBLUEInc.buyanyequipmentin2020?Howmuch?

2. Determinetheamountofdepreciationexpensecharged/recognizedfortheyear2020. 3. Howofmuchcashwaspaidfordepreciationin2020? 4. Howmuchwastheamountofdividendsdeclared&paidduringtheyear2020? 5. Howmuchcashwascollectedfromcustomerin2020?