CUMULATIVE PORTION-20 Points (5 MISSING AMOUNTS @ 4 PTS EACH) CORDOVA CORPORATION CORDOVA CORPORATION Statement of Cash Flows Income Statement For the Year Ended 12/31/2020 For the Year Ended 12/31/2020 Cash Flows from Operating Activities: Collections from Customers Payments to suppliers Payments of Gen & Admin Expenses Payments of Income Taxes Net Cash Flows from Operations Sales Revenue Cost of Goods Sold Gross Profit ale 5115 40 75 (46) (29) 18 7 Operating Expenses General & Administrative $25 Depreciation 12 Total Operating Expenses 37 Cash Flows from Investing Activities: Sale of Equipment Net Cash Flows from Investing E 2 Other income Loss on Sale of Equipment (7) Cash Flows from Financing Activities: Issuance of note payable Payment of Dividends Net Cash Flows from Financing 31 15 D Income before Income Taxes ? Income Tax Expense 9 Net Increase in Cash 7 Net Income $ 22 CORDOVA CORPORATION Balance Sheet As of 12/31/20 and 12/31/19 2020 2019 Salve for the following: 2 1125 A- Notes Payable 12/31/19 64 Assets: Cash Accounts Receivable Inventory Prepaid Gen & Admin Expenses Property Plant & Equipment Less: Accumulated Depreciation Total Assets $115 118 75 B 225 (57) ? 7 (7) 11 ? (20) (2) 8- Prepaid Expenses 12/31/20 10 245 (55) ? C Collections from Customers D. Payment of Dividends UNO abilities & Shareholder Equity Accounts payable to suppliers Dividends Payable Income taxes payable Notes Payable Common Stock Retained Earnings Total Liabilities & Shareholder Equity $ 65 S 60 S 5 14 12 ? 10 40 ? 246 246 107 95 12 2 E- Proceeds from Sale of Equipment | Al Page 10 of 11