Current Attempt in Progress Concord Corporation's balance sheet at the end of 2019 included the following items. Current assets (Cash $82,000) $236,250 Current liabilities $151,250 Land 32,200 Bonds payable 101,250 Buildings 121,250 Common stock 182,200 Equipment 92,200 Retained earnings 46,200 Accum. depr.-buildings (31,250) Total $480,900 Accum. depr.-equipment (11,000 ) Patents 41,250 Total $480,900 The following information is available for 2020. 1. Net income was $50,870. 2. Equipment (cost $21,250 and accumulated depreciation $9,250) was sold for $11,250. 3. Depreciation expense was $5,250 on the building and $10,250 on equipment. 4. Patent amortization was $2,500. 5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,250. 6. An addition to the building was completed at a cost of $28,250. 7. A long-term investment in stock was purchased for $16,000. 8. Bonds payable of $52,200 were issued. 9. Cash dividends of $30,000 were declared and paid. 10. Treasury stock was purchased at a cost of $11,000. (a) Cash Flows from Operating Activities Net Income CONCORD CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense Loss on Sale of Equipment Patent Amortization Increase in Current Assets (Other than Cash) Increase in Current Liabilities Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment Addition to Building Investment in Stock Net Cash Used by Investing Activities Cash Flows from Investing Activities Issuance of Bonds Purchase of Treasury Stock Payment of Dividends Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period Prepare a balance sheet at December 31, 2020. (Show only totals for current assets and current liabilities.) (List Property, Plant and Equipment in order of Land, Building and Equipment.) SAGE CORPORATION Balance Sheet eTextbook and Media List of Accounts $ Assets Liabilities and Stockholders' Equity $