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Health Diagnostics Inc. determines its operating cash flows by the indirect method. Health Diagnostics Inc. Income Statement For the Year Ended December 31, 2020 $180,000
Health Diagnostics Inc. determines its operating cash flows by the indirect method. Health Diagnostics Inc. Income Statement For the Year Ended December 31, 2020 $180,000 110,000 70,000 Sales revenue Cost of goods sold Gross margin Operating expenses Salary expenses Depreciation expense, equipment Gain on sale of equipment Net income $25,000 6,000 8,000 $ 47,000 Health Diagnostics Inc. Balance Sheet As at December 31, 2020 and 2019 Assets Cash and equivalents Accounts receivable Inventories Equipment, net Total assets 2020 $4,000 7,000 10,000 93,000 $114,000 2019 $1,000 11,000 9,000 69,000 $90,000 Total assets $114,000 $90,000 Liabilities and Shareholders' Equity Accounts payable Accrued liabilities Common shares Retained earnings Total liabilities and shareholders' equity $6,000 7,000 20,000 81,000 $114,000 $7,000 3,000 10,000 70,000 $90,000 Other Information: 1. The carrying amount of equipment sold during 2020 was $20,000. 2. There were cash dividends paid during the year. 3. There were no non-cash investing and financing activities during the year. Required: When answering the following questions, input "cash provided by..." as a positive number. Input "cash used by..." as a negative number using a minus sign NOT brackets. 1. Health Diagnostics Inc.'s net cash provided by operating activities during 2020 was 2. Health Diagnostics Inc.'s net cash used by investing activities during 2020 was 3. Health Diagnostics Inc.'s net cash used by financing activities during 2020 was
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