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+ dd Page Insert Tabla Chart Text Shape Medis Comment Comparative balance sheets, income statement, and additional financial information for Portland Trailblazers Partners appear below:
+ dd Page Insert Tabla Chart Text Shape Medis Comment Comparative balance sheets, income statement, and additional financial information for Portland Trailblazers Partners appear below: Portland Trailblazers Partners Comparative Balance Sheet December 31 2021 2020 Assets Cash $ 282,000 $ 153,000 139,000 150,000 18,000 180,000 117,000 27,000 Accounts receivable Merchandise inventory Prepaid expenses Property, plant, and equipment Accumulated depreciation Patents 1,095,000 (450,000) 178,000 $ 1.412.000 1,050,000 (375,000) 174.000 $ 1.326,00.0 Total assets Liabilities and equity $ $ 48,000 Liabilities: Accounts payable Accrued liabilities Notes payable, long-term Total liabilities 53,000 60,000 42,000 300.000 600.000 413,000 690,000 Equity Preferred stock Additional paid-in capital Retained carings Total equity 750,000 120,000 450,000 120,000 129,000 66,000 636,000 999,000 Total liabilities and equity S 1.412.000 S 1.326,000 Portland Trailblazers Partners 13 atv A a W ge View Share Window Help 127% + Add Page Chapter 12 Cash Flows EC.pages Shape Media Comment Zoom Insert Chart Income Statement For Year Ended December 31, 2021 $ 1,980,000 1.060.000 920,000 Sales Cost of goods sold Gross profit Operating expenses: General and administrative expenses Depreciation expense Amortization expense $ 690,000 75,000 24.000 789,000 Net income $_131.0.00 Additional information: 1. No property, plant, and equipment were sold. 2. Long-term notes payable were partially converted to preferred stock. 3. Dividend were declared and paid during the year. Instructions: Using the indirect method, prepare a statement of cash flows for the year ended December 31, 2021 in accordance with generally accepted accounting principles. Skip supplemental cash flow information Prepare the statement in the table provided. 13 tv A W MacBook Air
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