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Bill Blake Corporation's income statement for the year ended March 31, 2020 is given below. Car Sales Cost of goods sold Gross margin Less:
Bill Blake Corporation's income statement for the year ended March 31, 2020 is given below. Car Sales Cost of goods sold Gross margin Less: Operating expenses Operating income Interest expense Income be fore taxes Taxes Net income $122.000 74, 050 47.950 22,500 25,450 1,400 24,050 6,150 17.900 The balance sheet for the year ending March 31, 2019 and 2020 are as follows: 2020 2019 A SSETS Cash A ccounts receivable Inventory Prepayments Furniture Less Accumul ated depteciation on Furniture 69.900 21,000 43,400 3,200 55,000 2.000 183.500 12.500 26,000 48,400 2,600 60,000 2000 A ccounts payable Taxes pavable Notes payable ormmon Stock Retained earnings 13,000 1,200 37.000 115,000 17.300 183.500 14,000 1.800 35,000 90 000 3700 144 500 The following information is also given: The company issued $22.000 of notes payable to acquire furniture. Depreciation expenses recorded on furniture for the year amounted to $19,300 Repaid notes during the year $20,000 Furniture costing $27,000 with accumulated depreciation of $15,300 was sold at book val Dividends declared and paid during the year amounted to $ 4,300 .C. d. .e. REQUIRED: Prepare a Cash Flow Statement for 2020 in proper form for Bill Blake Corporation.
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