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Is there any experts who can solve this question for me? Thanks Question 21 90 pts Use the following financial statements and additional information to

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Question 21 90 pts Use the following financial statements and additional information to prepare a statement of cash flows for the year ended December 31, 2020 using the indirect method. Kris Kringle, Inc. Balance Sheets At December 31 2020 2019 Assets: Cash $174,525 $65.200 Accounts receivable, net 52,850 56.750 Merchandise inventory 167.750 144,850 Prepaid expenses 16,080 12,680 Equipment 290,600 245,600 Accumulated depreciation Equipment (80,600) 197.600) Total assets $621.205 $427.480 Liabilities: Accounts payable $55.270 $45,450 Income taxes payable 10,320 12.240 Accounts payable $55,270 $45,450 Income taxes payable 10,320 12,240 Notes payable (long term) 59,200 79.200 Total liabilities $124,790 $136.890 Equity: Common stock 200,000 150,000 Paid-in capital in excess of par 53,000 40,000 Retained earnings 243,415 100,590 Total equity $426,415 $290,590 Total liabilities and equity $621,205 $427,480 Kris Kringle, Inc. Income Statement For Year Ended December 31, 2020 Sales $488,000 Cost of goods sold $222,540 Depreciation expense 25,000 Other operating expenses 106,260 Kris Kringle, Inc. Income Statement For Year Ended December 31, 2020 Sales $488,000 Cost of goods sold $222,540 Depreciation expense 25,000 Other operating expenses 106,260 Interest expense 6,400 (360,200) Other gains (losses): Gain on sale of equipment 2.850 Income before taxes 130,650 Income taxes expense 30.525 Net income $100,125 Additional Information a. Cash dividends declared and paid were $55,000. b. New equipment is purchased for $150,000 cash. c. Received $49,550 cash for the sale of equipment. d. Issued new shares of stock receiving $157,000 cash

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