Gypsy Trekker, Inc. Comparative Balance Sheet As of December 31, 2020 Ending Balance Beginning Balance $ $ 91 637 586 29 654 537 1.220 1,314 1,517 654 863 $2,177 1,394 561 833 $2,053 Assets Current assets: Cash and cash equivalents Accounts receivable Merchandise inventory Total current assets Property, buildings, and equipment Less accumulated depreciation and amortization Net property, buildings, and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable.... Accrued wages and salaries payable Accrued income taxes payable Notes payable Total current liabilities Long-term debt Deferred income taxes Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 264 193 28 40 525 439 47 1,011 $ 220 190 22 38 470 482 49 1,001 155 897 157 1,009 1,166 $2,177 1,052 $2,053 Additional Information: Gypsy Trekker sold an old store for $8 million in cash. The original cost of the old store was $15 million and its accumulated depreciation was $10 million. Gypsy Trekker, Inc. Statement of Retained Earnings As of December 31, 2020 Retained earnings, beginning balance.. Add: Net income.. $ 897 140 1,037 28 Deduct: Dividends paid. Retained earnings, ending balance $1,009 Prior to the preparation of the Statement of Cash Flows, you decided to prepare a cash flow worksheet as shown below. CHANGE CASH FLOW EFFECT (+/-) Adjustments Adjusted Effect Classification (OP, INV, FIN) +17 Non Cash Assets Current Assets Accounts Receivable Merchandise Inventory Non-current Assets Property, plant and Equipment -17 (c) (a) le ) (b) (f) (d) 5) (h) -15 - 138 (0 Contra Assets Accumulated Depreciation & Amortization 0) (k) +101 +103 (0) (n) +44 (p) (t) (w) (m) (9) +6 (x) (0) (s) () (z) (u) (v) Liabilities and Equity Current Liabilities Accounts Payable Accrued Wages and Solarles Payable Accrued Income Taxes Payable Notes Payable Non-current Liabilities Long-term Debt Deferred Income Taxes Shareholders' Equity Common Stock Retained Earnings Net Income Dividends (aa) -2 (bb) -2 (cc) lee) (dd) OP (hh) (ii) (ii) (kk) (U) (pp) (mm) (99) (nn) (rr) (00) (ss) Additional Entries Proceeds from sale of store Gain on sale of store TOTAL NET CASH FLOW +8 -3 +8 -3 $ +62 (uu) -0- INSTRUCTION: Fill in the table above with the corresponding answers. HINT: Changes, cash flow effects, adjustments, and adjusted effects are numerical. They have appropriate signs before each amount; (+) indicates increases, while (-) indicates decreases. Classification pertains to the category of the activity - operating (OP), investing (INV), or financing (FIN)