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Carmas XC e D Dec. 21.2020 Dec. 31.2019 Asseb 5 $27,000 $10,000 Accounts receivable 19.000 14,000 Inventory 25.000 18,000 Prepaid expenses 6.000 Long-term investments
Carmas XC e D Dec. 21.2020 Dec. 31.2019 Asseb 5 $27,000 $10,000 Accounts receivable 19.000 14,000 Inventory 25.000 18,000 Prepaid expenses 6.000 Long-term investments O 9,000 18.000 Equipment 60.000 32.000 Accumulated depreciation- 120.000 (14.000) equipment Total assets Liabilities and Stockholders $117.000 $87.000 Equity Accounts payable Bonds payable $ 16,000 $ 7,000 38,000 47,000 Common stock 41,000 23,000 Retained earnings 22.000 10,000 Total liabilities and stockholders' $117.000 equity $87,000 Additional information: 1. Net income for the year ending December 31, 2020 was $27,000. 2. Dividends -- Calculate the amount. 3. Long-term investments that had a cost of $18,000 were sold for $14,000. 4. Gain or Loss-Calculate the amount. 5. Depreciation Expense - Calculate the amount. 6. Sales for 2020 were $140,000. Requirement: Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. G-SING
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