Current Attempt in Progress Nash Inc., had the following condensed balance sheet at the end of operations for 2019. NASH INC. BALANCE SHEET DECEMBER 31, 2019 Cash $8.500 Current liabilities $14.900 Current assets other than cash 29,200 Long-term notes payable 25,400 Equity invesments 19.900 Bonds payable 25.000 Plant assets (net) 68,200 Common stock 75.000 Land 39,700 Retained earnings 25,200 $ 165,500 $165,500 During 2020, the following occurred. 1. 2. 3. 4. 5. 6. 7 Atract of land was purchased for $8,900. Bonds payable in the amount of $15,000 were redeemed at par. An additional $10,000 in common stock was issued at par. Dividends totaling $9.400 were paid to stockholders. Net income was $30,200 after allowing depreciation of $13,600 Land was purchased through the issuance of $ 22,600 in bonds. Nash Inc. sold part of its investment portfolio for $12,700. This transaction resulted in a gain of $2,000 for the company. No unrealized gains or losses were recorded on these investments in 2020. Both current assets (other than cash) and current liabilities remained at the same amount. 8. Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a-sign eg. -15,000 or in parenthesis eg. (15,000).) NASH INC. Statement of Cash Flows Adjustments to reconcile net income to $ $ Prepare the condensed balance sheet for Nash Inc. as it would appear at December 31, 2020. (List assets in the order of Liquidity.) NASH INC. Balance Sheet Assets $ Liabilities and Equities $ $