Question
Current Attempt in Progress Grouper Inc. had the following balance sheet at December 31, 2019. GROUPER INC. BALANCE SHEET DECEMBER 31, 2019 Cash $ 24,280
Current Attempt in Progress Grouper Inc. had the following balance sheet at December 31, 2019. GROUPER INC. BALANCE SHEET DECEMBER 31, 2019 Cash $ 24,280 Accounts payable $ 34,280 Accounts receivable 25,480 Bonds payable 45,280 Investments 32,000 Common stock 104,280 Plant assets (net) 85,280 Retained earnings 27,480 Land 44,280 $ 211,320 $ 211,320 During 2020, the following occurred. 1. Grouper liquidated its available-for-sale debt investment portfolio at a loss of $ 9,280. 2. A tract of land was purchased for $ 42,280. 3. An additional $ 30,000 in common stock was issued at par. 4. Dividends totaling $ 14,280 were declared and paid to stockholders. 5. Net income for 2020 was $ 39,280, including $ 16,280 in depreciation expense. 6. Land was purchased through the issuance of $ 34,280 in additional bonds. 7. At December 31, 2020, Cash was $ 74,480, Accounts Receivable was $ 46,280, and Accounts Payable was $ 44,280. (a) Prepare a statement of cash flows for the year 2020 for Grouper. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) GROUPER INC. Statement of Cash Flows $ Adjustments to reconcile net income to $ $ Land purchased through issuance of $ of bonds List of Accounts Attempts: 0 of 7 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above.
Accounting
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