During 2020, you were hired as the Chief Financial Officer for MC Travel Inc., a fairly young travel

company that is growing quickly. A key accounting staff member has prepared the financial statements,

but there are a couple of transactions that have not been recorded yet because she is waiting for your

guidance regarding how these transactions should be recorded. In addition, the staff member is not

confident in preparing cash flow statements, so you have been asked to prepare this statement for

the 2020 year. MC Travel INC. reports under ASPE.