Comparative Balance Sheets
December 31	2019	2020
Assets:
Cash	$20,000	$38,000
Accounts Receivable	$150,000	$170,000
Inventory	$200,000	$230,000
Land	$85,000	$70,000
Building and Equipment	$175,000	$200,000
Accumulated Depreciation	($65,000)	($80,000)
Total Assets	$565,000	$628,000
Liabilities and Shareholders' Equity:
Accounts Payable	$75,000	$90,000
Income Taxes Payable	$42,000	$30,000
Notes Payable (Long-Term)	$80,000	$100,000
Preferred Stock	$75,000	$75,000
Common Stock (no par)	$175,000	$200,000
Retained Earnings	$118,000	$133,000
Total Liabilities and Shareholders' Equity	$565,000	$628,000

Cash Flow Statement using the indirect method.

Net Income for 2020 is $25,000. No non-cash investing activities occurred during the reporting period.

Statement of Cash Flows
For the Year Ended December 31, 2020
Cash Flows From Operations:
a.	b.
c.	d.
e.	f.
g.	h.
i.	j.
k.	l.
Cash Provided (Used) by Operating Activities	m.
Investing Activities:
n.	o.
p.	q.
Cash Provided (Used) by Investing Activities	r.
Financing Activities:
s.	t.
u.	v.
w.	x.
Cash Provided (Used) by Financing Activities	y.
Net Cash Provided (Used) by Operating, Investing and Financing Activities	z.
Beginning Cash Balance, January 1, 2020	aa.
Change in Cash	bb.
Ending Cash Balance, December 31, 2020	cc.