INDIRECT METHOD 12/31/2019 Debits Credits 12/31/2020 148,000 104,000 0 24,000 280,000 800,000 272.000 1,628,000 216,000 272,000 216,000 16,000 180,000 800,000 772,000 2,472,000 Cash Accounts Receivable 7 Inventory 2 Prepaid Insurance 3 Land 4 Buildings 75 Equipment 76 77 78 Accumulated Depreciation, Buildings 79 Accumulated Depreciation, Equipment 80 Accounts Payable 81 Bonds Payable B2 Common Stock ($1 par) 83 Retained Earnings 84 85 Cash Flow Section 87 44,000 40,000 160,000 600,000 240,000 544,000 1,628,000 84,000 112,000 132,000 440,000 880,000 824,000 2,472,000 86 BB