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Jamison Corp.'s balance sheet accounts as of December 31,2020 and 2019 are presented below. Information relating to 2020 activities: - Net income for 2020 was
Jamison Corp.'s balance sheet accounts as of December 31,2020 and 2019 are presented below. Information relating to 2020 activities: - Net income for 2020 was $1,500,000. - Cash dividends of $600,000 were declared and paid in 2020. - Equipment costing $1,000,000 and having a carrying amount of $320,000 (accumulated depreciation= $680,000 ) was sold in 2020 for $360,000. - A long-term investment was sold in 2020 for $320,000. There were no other transactions affecting long-term investments in 2020 . - 20,000 shares of common stock were issued in 2020 for $25 a share. - Short-term investments consist of treasury bills maturing on 6/30/21. - Gain on sale of cash equivalents was $100,000. Using the indirect method, net cash provided by Jamison's 2020 operating activities was
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