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estion 1 A comparative balance sheet for Hope Company appears below HOPE COMPANY Comparative Balance Sheet Des 31.2020 Des 31.2019 Assets Cash $ 27,000 $10,000
estion 1 A comparative balance sheet for Hope Company appears below HOPE COMPANY Comparative Balance Sheet Des 31.2020 Des 31.2019 Assets Cash $ 27,000 $10,000 Accounts receivable 19.000 LASCO Inventory 24,000 18.000 Prepaid expenses 6,000 9.000 Long-term investments -0- 17.000 Equipment 60.000 32.000 Accumulated depreciation- equipment (20.000) 13.000) Total assets $116,000 $87.000 des and Stockholders Equity Accounts payable $ 16,000 57000 Bonds payable 37.000 47000 Common stock 41.000 23.000 Retained earnings 22.000 10.000 Total liabilities and stockholders' equity $116,000 $87.000 587.000 Additional information: 1. Net income for the year ending December 31, 2020 was $27.000 2. Dividends Calculate the amount. 3. Long-term investments that had a cost of $17,000 were sold for $13.000 4. Gain or Loss - Calculate the amount. 5. Depreciation Expense - Calculate the amount. 6. Sales for 2020 were $150,000. Requirement: Prepare a statement of cash flows for the year ended December 31, 2020. using the indirect meth (Omit Company Heading)
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