Exercise 5-16 A comparative balance sheet for Coronado Corporation is presented as follows. December 31 2019 2020 Assets Cash Accounts receivable 72,660 22,000 83,490 181,490 72,490 261,490 (70,490) $601,130 $550,490 67,830 190,830 111,830 Inventory Land Equipment Accumulated Depreciation-Equipment 201,830 (43,830) Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total $ 48,830 200,000 164,000 35,490 150,000 214,000 201,640 $601,130 $550,490 137,660 Additional information: 1. Net income for 2020 was $127,980. No gains or losses were recorded in 2020 2. Cash dividends of $64,000 were declared and paid 3. Bonds payable amounting to $50,000 were retired through issuance of common stock. Prepare a statement of cash flows for 2020 for Coronado Corporation. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) CORONADO CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities 127,980 Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities 26,660 Depreciation expense (15,660) Increase in Accounts Receivable Decrease in Inventory 9,340 Decrease in Accounts Payable (13,340) 7,000 Net Cash Provided by Operating Activities 134,980 Cash Flows from Investing Activities Sale of Land 39,340 Purchase of Equipment (59,660) CALCOLATOR FOLL (20,320) Net Cash Used by Investing Activities Cash Flows from Financing Activities (64,000) Payment of Cash Dividends Net Increase in Cash 50,660 Cash at Beginning of Year 22,000 72,660 Cash at End of Year Net Cash Used by Financing Activities 50,000 of bonds outstanding Issued common stock to retire $ Determine Coronado Corporation's current cash debt coverage, cash debt coverage, and free cash flow. (Round current cash debt coverage and cash debt coverage to 2 decimal places., e.g. 0.67.) Current cash debt coverage Cash debt coverage :1 Free cash flow Comment on its liquidity and financial flexibility Coronado has liquidity. Its financial flexibility is Click if you would like to Show Work for this question: Open Show Work