Condensed financial data of Pina Colada Corp. follow. Pina Colada Corp. Comparative Balance Sheets December 31 Assets 2020 2019 Cash $117.100 $47,400 Accounts receivable 93,000 32,700 Inventory 111,400 102,700 Prepaid expenses 30,000 25,300 Investments 141,000 113,100 Equipment 264,700 241,500 Accumulated depreciation-equipment (46,100) (51,500) Total $711,100 $511,200 Liabilities and Stockholders' Equity Accounts payable $111,300 $67,100 Accrued expenses payable 16,100 17,400 Bonds payable 118,400 149,600 Common stock 220,900 174,000 Retained earnings 244,400 103,100 Total $711,100 $511,200 Pina Colada Corp. Income Statement For the Year Ended December 31, 2020 Sales revenue $391,600 Less: Cost of goods sold $134,600 Operating expenses, excluding depreciation 12,200 Depreciation expense 30,600 Income tax expense 27,500 Interest expense 5,000 Loss on disposal of plant assets 7,500 217,400 Net income $174.200 Additional information: 1. 2. New equipment costing $79,700 was purchased for cash during the year. Old equipment having an original cost of $56,500 was sold for $13,000 cash. Bonds matured and were paid off at face value for cash. 3 4 A cash dividend of $32.900 was declared and paid during the year. Pina Colada Corp. Statement of Cash Flows Adjustments to reconcile net income to $ >> > >