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Condensed financial data of Argo Vista Company for 2019 and 20 are presented below Agro Vista Company Comparative statement of Financial Position As of December
Condensed financial data of Argo Vista Company for 2019 and 20 are presented below Agro Vista Company Comparative statement of Financial Position As of December 31 2019, and 2020 2020 2019 Plant assets $ 19,000 $ 17,000 Accumulated depreciation (12,000) (11,700) Debt investment (held for collection 13,000 14,700 Inventory 16,000 19,000 Receivables 17,500 13,000 Cash 18,000 11,000 $ 71.500 $ 63.000 $ Share capital -ordinary Retained earnings Bonds payable Accounts payable Accrued liabilities 19,000 $ 17,000 24,500 19,000 14,000 16,500 12,000 8,000 2,000 2,500 71,500 $ 63,000 $ $ Agro Vista Company Income Statement For the year ended December 31, 2020 Sales Cost of goods sold Gross margin Selling and administrative expenses Income from operations 69,000 47.000 22,000 9,300 12,700 Other income and expense: Gain on sale of investments Income before tax Income tax expense Net Income 800 13,500 5,400 8,100 $ Additional information: During the year, $ 700 ordinary issues were issued in exchange for plant assets. No plant assets were sold in 2020. Cash dividends were SR 2,600 Required: Prepare a statement of cash flows for 2020 using indirect method
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