Bessied How was the retained wgs reported on 31 December 2019 for 10 12 The following comparative statement of financial position for Prett Co. is given for the financial periods 2019 and 2020: The income statement for 2020 is as follows: Net sales Cost of goods sold Gross profit Operating expenses Net income PPE 2020 $430,000 2019 $395,000 Accumulated depreciation of 185,000 PPE 175,000 Copyrights 55,000 65,000 Receivables 23,000 15,000 Inventory 65,000 82,000 Prepaid expenses 70.000 62.000 Cash 182.000 21.000 56:40.000 $515.000 Capital- preferred shares $42,000 23,000 Premium on preferred shares 140,000 160,000 Common stock 96,000 56,000 Retained earnings 45,000 34,000 Bond payable $7,000 Accounts payable 95,000 55,000 Accrued liabilities 165.000 187.000 $640.000 $515.000 $950,000 492.000 458,000 190,000 $268.000 Additional information: The operating expenses include the depreciation expenses and amortization expenses. Required: Compute the following using the Direct Method (Show your calculations). Question Completion Sta $ 3 seconds 10 12 The following comparative statement of financial position for Prett Co. is given for the financial periods 2019 and 2020: The income statement for 2020 is as follows: Net sales Cost of goods sold Gross profit Operating expenses Net income PPE 2020 $430,000 2019 $395,000 Accumulated depreciation of PPE 185,000 175,000 Copyrights 55,000 65,000 Receivables 23,000 15,000 Inventory 65,000 82,000 Prepaid expenses 70,000 62,000 Cash 182.000 21.000 5640.000 5515.000 Capital- preferred shares $42,000 23,000 Premium on preferred shares 140,000 160,000 Common stock 96,000 56,000 Retained earnings 45,000 34,000 Bond payable 57,000 Accounts payable 95,000 55,000 Accrued liabilities 165.000 187.000 5640.000 $515.000 $950,000 492.000 458,000 190,000 $268.000 Additional information: The operating expenses include the depreciation expenses and amortization expenses. Required: Compute the following using the Direct Method (Show your calculations). P 61.000 2019 Seetam 21000 ALLE OUR Capital preferred shares 342,000 23.000 Premium on preferred cha 140,000 10000 Common stock 96,000 36,000 Retained earnings 45,000 34,000 $7,000 95.000 55.000 165.000 187.000 5640000 SSLS 000 $950,000 422.000 458,000 190.000 $268.000 The income statement for 2020 is as follows: Net sales Cost of goods sold Gross profit Bond payable Accounts payable Accrued liabilities Operating expenses Net income Additional information: The operating expenses include the depreciation expenses and amortization expenses. Required: Compute the following using the Direct Method (Show your calculations). How much is the cash received from customer pront Operating expenses Net income 458,000 190,000 $268.000 Additional information: The operating expenses include the depreciation expenses and amortization expenses. Required: Compute the following using the Direct Method (Show your calculations). 1. How much is the cash received from customers? 2. How much is the cash paid to suppliers? 3. How much is the operating expenses paid? 4. How much is the Net cash provided by operating activities? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). V Arial BIUS Paragraph X2 X2> < -+ 144HZ 10pt 99 !!! !!! E