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boxes in red are wrong, can i please get the right answers? Here are comparative balance sheets for Metlock Company. Prepare a statement of cash
boxes in red are wrong, can i please get the right answers?
Here are comparative balance sheets for Metlock Company. Prepare a statement of cash flows-indirect method. Additional information: 1. Net income for 2020 was $96,000. 2. Cash dividends of $25,000 were declared and paid. 3. Bonds payable amounting to $61,000 were redeemed for casth $61,000. 4. Common stock was issued for $42,000cash 5. Equipment that cost $50,000 and had a book valuz of $27,000 was sold for $34,000 during 2020 : land was sold at cost. METLOCK COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income $ 96000 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $\begin{tabular}{|l|l|l|} \hline & 33000 \\ \hline \end{tabular} Gain on Disposal of Equipment Increase in Accounts Receivable Decrease in inventory Decrease in Accounts Payable 9000 Cash Flows from Investing Activities Cash Flows from Financing Activities Redemption of Bonds Issuance of Common Stock. Payment of Cash Diyldends Net Decrease in Cash Cash Flows from Financine Activities Cash at Beginning of Period Cashat End of Period Step by Step Solution
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