Current assets (Cash $82,000)	$245,000	Current liabilities	$165,000
Land	30,000	Bonds payable	100,000
Buildings	120,000	Common stock	180,000
Equipment	95,000	Retained earnings	44,000
Accum. depr.buildings	(30,000)
Accum. depr.equipment	(11,000)
Patents	40,000
Total	$489,000	Total	$489,000

The following information is available for 2020.

1. Net income was $55,000.

2. Equipment (cost $20,000 and accumulated depreciation $8,000) was sold for $10,000.

3. Depreciation expense was $4,000 on the building and $9,000 on equipment.

4. Patent amortization was $2,500.

5. Current assets other than cash increased by $29,000. Current liabilities increased by $13,000.

6. An addition to the building was completed at a cost of $27,000.

7. A long-term investment in stock was purchased for $16,000.

8. Bonds payable of $50,000 were issued.

9. Cash dividends of $30,000 were declared and paid.

10. Treasury stock was purchased at a cost of $11,000.

Instructions (Show only totals for current assets and current liabilities.)

a. Prepare a statement of cash flows for 2020.

b. Prepare a balance sheet at December 31, 2020.