Calibri (Body) 12 Custom ' & A. Paste V $ % 978-98 D1 XV fx salh Alzubidi C D F G H Credits 12/31/20 162,000 204,000 162,000 12,000 135,000 600,000 579,000 1,854,000 93 94 DIRECT METHOD 95 12/31/19 Debits 96 Cash 111,000 97 Accounts Receivable 78,000 98 Inventory 0 99 Prepaid Insurance 18,000 100 Land 210,000 101 Buildings 600,000 102 Equipment 204,000 103 1,221,000 104 105 Accumulated Depreciation, 33,000 106 Accumulated Depreciation, 30,000 107 Accounts Payable 120,000 108 Bonds Payable 450,000 109 Common Stock (51 par) 180,000 110 Retained Earnings 408,000 111 1,221,000+ 112 113 Income Statement Section 114 Revenues 115 Cost of Goods Sold 116 Operating Expenses 117 Interest Expense 118 Loss on sale of equipment 119 income tax expense 120 Net Income 121 122 Cash Flow Section DIRECT method: 123 124 125 126 63,000 84,000 99,000 330,000 660,000 618,000 1,854,000 Calibri (Body) 12 Custom ' & A. Paste V $ % 978-98 D1 XV fx salh Alzubidi C D F G H Credits 12/31/20 162,000 204,000 162,000 12,000 135,000 600,000 579,000 1,854,000 93 94 DIRECT METHOD 95 12/31/19 Debits 96 Cash 111,000 97 Accounts Receivable 78,000 98 Inventory 0 99 Prepaid Insurance 18,000 100 Land 210,000 101 Buildings 600,000 102 Equipment 204,000 103 1,221,000 104 105 Accumulated Depreciation, 33,000 106 Accumulated Depreciation, 30,000 107 Accounts Payable 120,000 108 Bonds Payable 450,000 109 Common Stock (51 par) 180,000 110 Retained Earnings 408,000 111 1,221,000+ 112 113 Income Statement Section 114 Revenues 115 Cost of Goods Sold 116 Operating Expenses 117 Interest Expense 118 Loss on sale of equipment 119 income tax expense 120 Net Income 121 122 Cash Flow Section DIRECT method: 123 124 125 126 63,000 84,000 99,000 330,000 660,000 618,000 1,854,000