Below is the comparative balance sheet for Tamarisk 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 Accumulated depreciation-delivery equipment (21,900) 38,700 (20,600) -O- Patents 15,100 $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 100,900 Paid-in capital in excess of par 4,000 139,000 10,100 73,500 $378,800 Retained earnings 53,700 $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.) TAMARISK 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 $ $16,300 Short-term investments 18,800 24,800 Accounts receivable 45,500 43,400 Prepaid expenses 2,500 4,100 Inventory 65,600 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 Credits Accounts payable $16,200 $ $26,200 Notes payable 6,000 4,000 Accrued liabilities 4,700 3,000 Allowance for doubtful accounts 2,000 1,800 Accumulated Depreciation Building 22,900 29,800 Accumulated Depreciation-Equipment 19,000 15,700 20,600 Accumulated Depreciation-Delivery Equipment 21,900 Mortgage payable 53,500 73,000 Bonds payable 50,000 Common stock 61,900 100,900 4,000 139,000 Paid-in capital in excess 10,100 Retained earnings 53,700 73,500 Total credits $362,100 $451,300 Tamarisk Corporation Statement of Cash Flows Effects Cash Flows from Operating Activities Net Income Depreciation Purchase of Investments Increase in Accounts Receivable (Net) Decrease in Prepaid Expenses Decrease in Inventory Increase in Accounts Payable Increase in Accrued Payables Totals Net Decrease in Cash Totals Below is the comparative balance sheet for Tamarisk 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 Accumulated depreciation-delivery equipment (21,900) 38,700 (20,600) -O- Patents 15,100 $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 100,900 Paid-in capital in excess of par 4,000 139,000 10,100 73,500 $378,800 Retained earnings 53,700 $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.) TAMARISK 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 $ $16,300 Short-term investments 18,800 24,800 Accounts receivable 45,500 43,400 Prepaid expenses 2,500 4,100 Inventory 65,600 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 Credits Accounts payable $16,200 $ $26,200 Notes payable 6,000 4,000 Accrued liabilities 4,700 3,000 Allowance for doubtful accounts 2,000 1,800 Accumulated Depreciation Building 22,900 29,800 Accumulated Depreciation-Equipment 19,000 15,700 20,600 Accumulated Depreciation-Delivery Equipment 21,900 Mortgage payable 53,500 73,000 Bonds payable 50,000 Common stock 61,900 100,900 4,000 139,000 Paid-in capital in excess 10,100 Retained earnings 53,700 73,500 Total credits $362,100 $451,300 Tamarisk Corporation Statement of Cash Flows Effects Cash Flows from Operating Activities Net Income Depreciation Purchase of Investments Increase in Accounts Receivable (Net) Decrease in Prepaid Expenses Decrease in Inventory Increase in Accounts Payable Increase in Accrued Payables Totals Net Decrease in Cash Totals