Below is the comparative balance sheet for Bridgeport Corporation. Dec 31, 2020 Dec 31, 2019 Cash $16,300 $21,000 Short-term investments 24,800 18,800 Accounts receivable 43,400 45,500 Allowance for doubtful accounts (1,800) (2.000) Prepaid expenses 4,100 2,500 Inventory 81,700 65,600 Land 49,500 49,500 Buildings 125,100 74,000 Accumulated depreciation-buildings (29,800) (22,900) Equipment 52.600 46,500 Accumulated depreciation equipment (19,000) (15,700) Delivery equipment 38,700 38,700 Accumulated depreciation-delivery equipment (21,900) (20,600) Patents 15,100 $378,800 -0- $300,900 Accounts payable $26,200 $16,200 Short-term notes payable (trade) 4.000 6,000 Accrued payables 3.000 4700 Bunungs 12.100 Accumulated depreciation-buildings (29,800) (22,900) Equipment 52,600 46.500 Accumulated depreciation-equipment (19,000) (15,700) Delivery equipment 38,700 38,700 Accumulated depreciation-delivery equipment (21,900) (20,600) Patents 15,100 -0- $378,800 $300,900 Accounts payable $26,200 $16,200 Short-term notes payable (trade) 4,000 6,000 Accrued payables 3,000 4,700 Mortgage payable 73,000 53,500 Bonds payable 50,000 61,900 Common stock 139,000 100,900 Paid-in capital in excess of par 10,100 4,000 Retained earnings 73,500 53,700 $378,800 $300,900 Dividends in the amount of $14,900 were declared and paid in 2020. From this information, prepare a worksheet for a statement of cash flows. Make reasonable assumptions as appropriate. The short-term investments are considered available for sale and no unrealized gains or losses have occurred on these securities. (Enter amounts either in debit or in credit column in Statement of Cash Flows Effects except for totals) BRIDGEPORT CORPORATION WORKSHEET FOR PREPARATION OF STATEMENT OF CASH FLOWS For the Year Ended December 31, 2020 2020 Reconciling Items Balance at 12/31/19 Balance at 12/31/20 Debits Debit Credit Cash $21,000 $ 4700 $16,300 Short-term Investments 18,800 6000 24,800 Accounts receivable 45,500 43,400 Prepaid expenses 2,500 4,100 Inventory 65,600 16100 81,700 Land 49,500 49,500 Buildings 74.000 125.100 Equipment 46,500 52.600 Equipment (Delivery) 38.700 38,700 Patents 15.100 Total debits $362.100 $451.300 Equipment Delivery) 30,00 Patents 15100 15,100 Total debits $362,100 $451,300 Credits Accounts payable 10000 $26,200 $16,200 $ 6,000 Notes payable 2000 4,000 Accrued liabilities 4.700 1700 3,000 Allowance for doubtful accounts 2.000 1,800 Accumulated Depreciation-Building 22,900 6900 29,800 Accumulated Depreciation-Equipment 15,700 3300 19.000 Accumulated Depreciation-Delivery Equipment 20,600 1300 21.900 Mortgage payable 53,500 19500 73,000 Bonds payable 61.900 50,000 Common stock 100,900 38100 139,000 Paid in capital in excess 4,000 6100 10,100 Retained earnings 53.700 73,500 Total credits $362.100 $451,300 Bridgeport Corporation Statement of Cash Flows Effects Cash Flows from Operating Activities Net Income 34700 Depreciation 11500 Decrease in Accounts Receivable (Net) 1900 Increase in Prepaid Expenses 1600 Increase in Inventory 16100 Increase in Accounts Payable 10000 Decrease in Notes Payable 000 Decrease in Accrued Payables Cash Flows from Investing Activities Purchase of Building 51100 Purchase of Eulament 6100 Purchase of Patents 15100 Cash Flows from Investing Activities Purchase of Building 51100 Purchase of Equipment 6100 Purchase of Patents 15100 Sale of Available-for-Sale Investments 52800 Cash Flows from Financing Activities Redemption of Bonds 11900 Sale of Stock 44200 Payment of Cash Dividends 14900 17400 Totals 4700 4700 Net Increase in Cash 21000 Totals 16300