ch 10-15 INTERMED V. Cash pertaining to funding the business such as movements in Stock, Debt and payments V. Always know if you are right when you start with beginning cash and +/- cash from operations, investing and P5.7B (LO 2,3) (Preparation of a Statement of Cash Flows and Balance Sheet) Ficus Inc. had the following balance sheet at December 31, 2019 FICUS INC BALANCE SHEET DECEMBER 31, 2019 Accounts payable Notes payable (long-term) Common stock Retained earnings $ 31,000 56,800 86,000 138,500 66,000 5378,300 $ 61,000 76,000 200,000 41,300 5378,300 Cash Accounts receivable Investments Plant assets (net) Land During 2020), the following occurred: 1. Ficus liquidated its available-for-sale investment portfolio at a gain of $15,000. 2. A tract of land was purchased for $61,000 cash. 3. An additional $15,200 in common stock was issued at par. 4. Dividends totaling $41,000 were declared and paid to stockholders. 5. Net income for 2020 was $46,000, including $8,000 in depreciation expense. 6. Land was purchased through the issuance of $195,000 in additional notes payable. 7. At December 31, 2020, Cash was $68,000, Accounts Receivable was $84,000, and Accounts Payable was $72,000. 15 Assignment P5.7B (LO 2,3) (Preparation of a Statement of Cash Flows and Balance Sheet) Ficus Inc. had the following balance sheet at December 31, 2019 Cash Accounts receivable Investments Plant assets (net) Land FICUS INC BALANCE SHEET DECEMBER 31, 2019 $ 31,000 Accounts payable 56,800 Notes payable (long-term) 86,000 Common stock 138,500 Retained earnings 66,000 5378,300 $ 61,000 76,000 200,000 41,300 $378,300 During 2020, the following occurred: 1. Ficus liquidated its available for sale investment portfolio at a gain of $15,000. 2. A tract of land was purchased for $61,000 cash. 3. An additional $15,200 in common stock was issued at par 4. Dividends totaling $41,000 were declared and paid to stockholders. 5. Net income for 2020 was $46,000, including $8,000 in depreciation expense. 6. Land was purchased through the issuance of $195,000 in additional notes payable. 7. At December 31, 2020, Cash was $68,000, Accounts Receivable was $84,000, and Accounts Payable was $72.000 Instructions (a) Prepare a statement of cash flows for the year 2020 for Ficus