Dec. 31, 2020 Dec 31, 2019 Cash $16,300 $21,000 Short-term investments 24,800 18,800 Accounts receivable 43,400 45,500 Allowance for doubtful accounts (1,800) (2,000) Prepaid expenses 4,100 2,500 Inventory 81,700 65,600 Land 49,500 49,500 Buildings 125,100 74,000 Accumulated depreciation-buildings (29/800) (22.900) Equipment 52,600 46,500 Accumulated depreciation-equipment (19,000) (15,700) Delivery equipment 38,700 38,700 Accumulated depreciation-delivery equipment (21,900) (20,600 Patents 15,100 $378,800 -O- $300,900 Accounts payable $26,200 $16,200 Short-term notes payable (trade) 4,000 6,000 Accrued payables 4,700 3,000 73,000 Mortgage payable 53,500 cture.com/courses/1964931/assignments/10429057?module item id-24060169 Buildings 125,100 74,000 Accumulated depreciation-buildings (29,800) (22,900) Equipment 52,600 46,500 Accumulated depreciation-equipment (19,000) (15,700) Delivery equipment 38,700 Accumulated depreciation-delivery equipment (21,900) 38,700 (20,600) -O- $300,900 Patents 15.100 $378,800 Accounts payable $26,200 $16,200 Short-term notes payable (trade) 4,000 6,000 Accrued payables 4.700 Mortgage payable 3,000 73,000 50.000 Bonds payable 53,500 61.900 100,900 Common stock 139.000 Paid-in capital in excess of par 10,100 73,500 $378,800 4,000 53,700 $300,900 Retained earnings Dividends in the amount of $14.900 were declared and paid in 2020 From this information, prepare a worksheet for a statement of cash flows. Make reasonable assumptions as appropriate. The short-term investments are considered available-for-sale and no unrealized gains or losses have occurred on these securities. (Enter amounts either in debit or in credit column in Statement of Cash Flows Effects except for totals.) Dividends in the amount of $14,900 were declared and paid in 2020. From this information, prepare a worksheet for a statement of cash flows. Make reasonable assumptions as appropriate. The short-term investments are considered available for sale and no unrealized gains or losses have occurred on these securities. (Enter amounts either in debit or in credit column in Statement of Cash Flows Effects except for totals.) BRIDGEPORT CORPORATION WORKSHEET FOR PREPARATION OF STATEMENT OF CASH FLOWS For the Year Ended December 31, 2020 2020 Reconciling Items Balance at 12/31/19 Balance at 12/31/20 Debits Debit Credit Cash $21,000 $ 4700 $16.300 Short-term investments 18,800 6000 24.800 Accounts receivable 45,500 2100 43.400 Prepaid expenses 2.500 4,100 Inventory 65,600 81.700 Land 49,500 49.500 Buildings 74,000 125,100 Equipment 46,500 52.600 Equipment (Delivery) 38,700 38,700 Patents 15.100 Total debits $362.100 $451.300 STUCU 15100 15,100 Patents $451,300 $362.100 Total debits Credits Accounts payable $26,200 $16.2005 2000 4,000 Notes payable 6,000 4,700 1700 Accrued liabilities 3,000 Allowance for doubtful accounts 2,000 1.800 22,900 6900 Accumulated Depreciation-Building 29,800 15,700 3300 Accumulated Depreciation Equipment 19,000 Accumulated Depreciation-Delivery Equipment 1300 21,900 20,600 53,500 61,900 19500 Mortgage payable 73,000 50,000 Bonds payable Common stock 100.900 139,000 38100 Paid-in capital in excess 6100 4.000 53.700 1 CHOO Retained earnings 10,100 73,500 $451,300 Total credits $362.100 Bridgeport Corporation Statement of Cash Flows Effects Bridgeport Corporation Statement of Cash Flows Effects Cash Flows from Operating Activities Net Income 34700 S Depreciation 11500 Decrease in Accounts Receivable (Net) 1900 Increase in Prepaid Expenses 1600 Increase in Inventory 16100 Increase in Accounts Payable 10000 Decrease in Notes Payable 2000 Decrease in Accrued Payables 1700 Cash Flows from Investing Activities Purchase of Building 51100 Purchase of Equipment 6100 Purchase of Patents 15100 Sale of Available for Sale investments Decrease in Accrued Payables 1700 Cash Flows from Investing Activities Purchase of Building 51100 Purchase of Equipment 6100 Purchase of Patents 15100 Sale of Available for Sale Investments 52800 Cash Flows from Financing Activities Redemption of Bonds 11900 Sale of Stock 44200 Payment of Cash Dividends 14900 36900 Totals 4700 Cash at End of Period 2000 Totals 4300