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Do the statement of cash flows for the year end December 31 2020, using indirect method 4. A comparative statement of financial position for Mann
Do the statement of cash flows for the year end December 31 2020, using indirect method
4. A comparative statement of financial position for Mann Company appears below: MANN COMPANY Comparative Statement of Financial Position Dec. 31, 2020 Dec. 31, 2019 Assets Equipment E 60,000 E32,000 Accumulated depreciation-equipment (20,000) (14,000) Long-term investments -0- 18,000 Prepaid expenses 6,000 9,000 Inventory 25,000 18,000 Accounts receivable 18,000 14,000 Cash 33,000 10,000 Total assets (122,000 E87,000 Equity and Liabilities Share capital-ordinary E 40,000 (23,000 Retained earnings 28,000 10,000 Bonds payable 37,000 47,000 Accounts payable 17,000 7,000 Total equity and liabilities E122,000 E87,000 Additional information: 1. Net income for the year ending December 31, 2020 wasStep by Step Solution
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