he following data for the vear ended December 31 2020 Current accounts -X December 31, 2020 2019 Current accounts (all result from operations) Current assets Cash and cash equivalents $ 143,250 $ 74,000 Accounts receivable 188,000 163,000 Inventory 224,000 273,000 23,000 Prepaid expenses 19,000 Current liabilities 66,000 51,000 Note payable (for inventory purchases) Accounts payable Income tax payable Accrued liabilities 138,000 112,000 54,000 153,000 43,000 84,000 Print Done Transaction data pures that are Transaction data for 2020 Acquisition of building Acquisition of land by issuing long-term note payable Acquisition of long-term investment Amortization expense Collection of loan Issuance of common shares for cash Stock dividends $ 50,000 20,000 211,000 98,000 $ 341,000 Issuance of long-term note payable to borrow cash 249,000 Loss on sale of equipment Net income 79,000 Payment of cash dividends 70,000 Repurchase and retirement 85,000 of common shares Retirement of bonds payable by 129,000 issuing common shares 85,000 Sale of equipment for cash 85,750 ns 157,500 147,000 expe Carlson Ltd's accountants have assembled the following data for the year ended December 31, 2020 (Click the icon to view the current accounts.) (Click the icon to view the transaction data.) Required 1. Prepare Carlson Ltd's cash flow statement using the indirect method to report operating activities Note any additional disclosures that are required 2. Evaluate Carlson Ltd's cash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation Requirement 1. Prepare Carlson Ltd's cash flow statement, using the indirect method to report operating activities. Note any additic (Use parentheses or a minus sign for numbers to be subtracted.) Carlson Ltd. Cash Flow Statement For the Year Ended December 31, 2020 Cash flows from operating activities Net income Add (subtract) items that affect net income and cash flow differently Amortization expense Loss on sale of equipment Increase in accounts receivable Increase in inventory Enter any number in the edit fields and then continue to the next question Carlson Lid's accountants have assembled the following data for the year ended December 31, 2020 (Click the icon to view the current accounts.) (Click the icon to view the transaction data.) Required 1. Prepare Carlson Lid's cash flow statement using the indirect method to report operating activities. Note any additional disclosures that are required. 2. Evaluate Carlson Ltd's cash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation olalle for the vear ended December 31 2020 rrel i Current accounts sta JS fd December 31, 2020 2019 Ed's Current accounts (all result from operations) itional disc foil Current assets $ 143,250 $ Cash and cash equivalents Accounts receivable 74,000 Casi 163,000 ear 188,000 273,000 224,000 vitie Inventory Prepaid expenses Current liabilities 23,000 19.000 ct nel 51,000 Note payable (for inventory purchases) Accounts payable Income tax payable Accrued liabilities 66,000 138 000 112 000 54,000 153,000 43,000 at 84,000 eivab Transaction data Transaction data for 2020 Acquisition of building Acquisition of land by issuing long-term note payable Acquisition of long-term investment Amortization expense Collection of loan $ 50,000 20,000 211,000 98,000 341,000 Issuance of long-term note payable to borrow cash 249,000 Loss on sale of equipment Net income 79.000 Payment of cash dividends 70,000 Repurchase and retirement 85,000 of common shares Retirement of bonds payable by 129,000 issuing common shares 85,000 Sale of equipment for cash a 85,750 Issuance of common shares 157 500 Gif for cash 147.000 Stock dividends Print Done cod ver Larison Lta. Cash Flow Statement For the Year Ended December 31, 2020 Cash flows from operating activities Net income Add (subtract) items that affect net income and cash flow differently Amortization expense Loss on sale of equipment Increase in accounts receivable Increase in inventory Increase in prepaid expenses Increase in note payable, short-term Decrease in accounts payable Enter any number in the edit fields and then continue to the next question. evaluation Cash flows from investing activities Acquisition of building Acquisition of long-term investment Sale of equipment Collection of loan Net cash outflow from investing activities Cash flows from financing activities Issuance of common shares Issuance of long-term note payable Payment of cash dividends Repurchase of common shares Net cash outflow from financing activities Net increase in cash Carth halane lanuary 1, 2020 1. Prepare Carlson Ltd's cash flow statement using the indirect method to report operating activities Note any additional disclosures that are required 2. Evaluate Carlson Lid's cash flows for the year Mention all three categories of cash flows, and give the reason for your evaluation Cash balance, January 1, 2020 Cash balance, December 31, 2020 Note: Non-cash Investing and Financing Activities 1 The company issued common shares for to retire bonds payable 2. The company issued a long-term note payable for to buy land 3. The company distributed stock dividends in the amount of Requirement 2. Evaluate Carlson Lid's cash flows for the year Mention all three categories of cash flows and give the reason for your valuation The cash flow from operating activities amounted to V amount shows that the company is protitalo The incre This crease in is The investment in is a good sign for the future of the company Presumably those purchases will provide the facilities for The future looks V when the company invests in new capital assets The financing activities indicate that the company is considered sufficiently credit worthy to be able to Enter any number in the edit fields and then continue to the next