Question
Given below is selected information of Bothell Corporation along with additional data. Prepare a cash flow statement for 2020 using the indirect method. December 31
Given below is selected information of Bothell Corporation along with additional data. Prepare a cash flow statement for 2020 using the indirect method.
December 31
2019 2020
Cash.......................................................... $42,000 $75,000
Accounts receivable (net)......................... 84,000 144,200
Inventory.................................................. 168,000 201,600
Land.......................................................... 58,800 16,000
Equipment................................................. 504,000 789,600
Accumulated depreciation....................... 84,000 115,600
Accounts payable....................................... 50,400 86,000
Notes payable - Short-term...................... 67,200 29,400
Notes payable - Long-term......................168,000 302,400
Common stock........................................... 420,000 487,200
Additional data for 2020:
Net income was $240,200.
Land was sold for a loss of $2,000.
Dividends of $101,600 were paid.
Equipment was purchased for $84,000 cash.
A long-term note for $201,600 was used to pay for an equipment purchase.
Common stock was issued to pay a $67,200 long-term note payable.
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