homoloTTOR ZULU, Alex Company Comparative Balance Sheets December 31 Assets 2020 $63,000 68,000 2019 $36,000 20.000 48,000 Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Totals 6,000 51.000 220,000 (18,000) 198,000 (27.000) $609.000 4,000 72.000 220,000 (12,000) 66,000 (10,090) $395,910 Change Increase/Decrease $27.000 Increase 48,000 Increase 48,000 Increase 2,000 Increase 21,000 Decrease -0- 6,000 Increase 132,000 Increase 16,910 Increase Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock ($1 par) Retained earnings Totals $42.000 -0- 93,000 226,000 248,000 $609,000 $40,000 11.000 152.000 57.000 135.910 $395.910 $2,000 11.000 59,000 169,000 112.090 Increase Decrease Decrease Increase Increase Income Statement For the Year Ended December 31, 2020 Sales revenue $921,000 Cost of goods sold $485,000 Operating expenses 211,000 Interest expense 12,000 Loss on disposal of plant assets 2,000 710,000 Income before income taxes 211,000 Income tax expense 60,000 Net income $151,000 Additional information: 1. 2 3. 4. Operating expenses include depreciation expense of $37.910. Land was sold at its book value for cash. Cash dividends of $38.910 were declared and paid in 2020, Equipment with a cost of $180,000 was purchased for cash. Equipment with a cost of $48.000 and a book value of $33,000 was sold for $31.000 cash Bonds of $59.000 were redeemed at their face value for cash Common stock (81 par) of $169,000 was issued for cash 5. 6. Use this information to Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg. 15,000 or in parenthesises (15,000) ALEX COMPANY Use this information to Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-signes. -15,000 or in parenthesis eg. (15,000)) ALEX COMPANY Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to >