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BRIDGEPORT INC. BALANCE SHEETS Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash $ 47,450 Accounts receivable 94,830 $ 15,450 89,380 23,380 11,000 $32,000 Inc.
BRIDGEPORT INC. BALANCE SHEETS Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash $ 47,450 Accounts receivable 94,830 $ 15,450 89,380 23,380 11,000 $32,000 Inc. 5,450 Inc. 19,450 Inc. 9,830 Inc. 42.830 Equipment Less: Accumulated Depreciation-Equipment 20,830 $164,280 Total $117,210 Liabilities and Stockholders' Equity Accounts payable $ 23,830 102,450 38,000 $ 16,380 81,380 Common stock 7.450 Inc. 21,070 Inc. 18,550 Inc. Retained earnings 19.450 Total $164.280 $117,210 Net income of $47,830 was reported, and dividends of $29,280 were paid in 2020. New equipment was purchased and none was sold. Prepare a statement of cash flows for the year 2020. (Show amounts that decrease cash flow with either a-sign e g. -15,000 or in parenthesis eg. (15,000).) BRIDGEPORT INC. Statement of Cash Flows Adjustments to reconcile net income to
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