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I need calculations for cash flows from financing and investing activities only. If you can not do both than only do financing. Comparative balance sheets
I need calculations for cash flows from financing and investing activities only. If you can not do both than only do financing.
Comparative balance sheets for 2020 and 2019 and an income statement for 2020 are provided below for Boston Industries. Additional information from the accounting records of Boston is provided. Comparative Balance Sheets December 31, 2020 and 2019 ($ in thousands) 2020 2019 Assets: Cash Accounts receivable Inventory Prepaid Insurance Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Patent $ 1,800 1,800 2,700 30 2,025 2,700 (900) 8,550 (1,575) 3,600 $20,730 $ 1,125 1,350 1,575 10 1,800 2,700 (810) 6,750 (1,440) 4,500 $17,560 Liabilities: Accounts payable Accrued operating expenses payable Note Payable - land $ 2,280 900 $ 1,360 675 0 450 Shareholders' Equity: Common stock Paid-in capital-excess of par Retained earnings 9,450 2,250 5,400 $20,730 9,000 2,025 4,500 $17,560 Income Statement For year ended December 31, 2020 ($ in thousands) $7,935 270 $8,205 Revenues: Sales revenue Gain on sale of land Expenses: Cost of goods sold Depreciation expense-building Depreciation expense-equipment Loss on sale of equipment Amortization of patent Insurance expense Operating expenses Net income $1,800 90 945 45 900 50 1,450 5,280 $2,925 Determine cash inflows or cash outflows (negative) from investing activities (7 points) Description Amount Net cash flows from investing activities 2. Determine cash inflows or cash outflows (negative) from financing activities (2 points) Amount Description Net cash flows from financing activities
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