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opped Book Print ferences Following is a statement of cash flows (indirect method) for Hartford Inc. for the year ended December 31, 2020. Also
opped Book Print ferences Following is a statement of cash flows (indirect method) for Hartford Inc. for the year ended December 31, 2020. Also shown is a partially completed comparative balance sheet as of December 31, 2020 and 2019: HARTFORD INC. Statement of Cash Flows For the year Ended December 31, 2020 Cash Flows from Operating Activities: Net income Add (deduct) items not affecting cash: Depreciation expense Decrease in accounts receivable Increase in Inventory Increase in notes payable Decrease in accounts payable Net cash provided by operating activities Cash Flows from Investing Activities: Purchase of equipment Purchase of buildings Net cash used by investing activities Cash Flows from Financing Activities: Proceeds from short-term debt Cash used for retirement of long-term debt Proceeds from issuance of common stock Payment of cash dividends on common stock Net cash used by financing activities Net decrease in cash for the year Required: $ 5,400 27,000 13,800 (4,200) 7,200 (3,600) $45,600 $ (30,000) (28,000) $ (58,800) $ 3,000 (15,000) 6,000 (1,800) $ (7,800) $ (21,000) a. Complete the December 31, 2020 and 2019 balance sheets. b. Complete the statement of changes in retained earnings for the year ended December 31, 2020.
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