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E5.14 (LO 3) (Preparation of a Statement of Cash Flows) The comparative balance sheets of Constantine Cavamanlis Inc. at the beginning and the end of

E5.14 (LO 3) (Preparation of a Statement of Cash Flows) The comparative balance sheets of Constantine Cavamanlis Inc. at the beginning and the end of the year 2020 are as follows. Constantine Cavamanlis Inc. Assets Cash Accounts receivable Equipment Balance Sheets Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. $ 45,000 $13,000 $32,000 Inc. 91,000 88,000 3,000 Inc. 39,000 22,000 17,000 Inc. 17,000 11,000 6,000 Inc. $158,000 $112,000 Less: Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Common stock $ 20,000 100,000. $ 15,000 5,000 Inc. 80,000 20,000 Inc. Retained earnings 38,000 17,000 21,000 Inc. Total $158,000 $112,000 Net income of $44,000 was reported, and dividends of $23,000 were paid in 2020. New equipment was purchased and none was sold. Instructions Prepare a statement of cash flows for the year 2020

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