player/index.html launchidaoba20088-7840-44e2-ac31-d7b113bc4a1a/question/10 Question 11 of 14 - / 23 III View Policies Current Attempt in Progress Here are comparative balance sheets for Migitsu Company. Prepare a statement of cash flows-indirect method. 2019 MIGITSU COMPANY Comparative Balance Sheets December 31 Assets 2020 Cash $74,000 Accounts receivable 87,000 Inventories 170,000 Land 70,000 Equipment 263,000 Accumulated depreciation (66,000) Total $598,000 Liabilities and Stockholders' Equity Accounts payable $40,000 Bonds payable 150,000 Common stock ($1 par) 215,000 Retained earnings 193,000 Total $598,000 $24,000 75,000 192,000 99,000 201,000 (32.000) $559.000 $52,000 209,000 174,000 124,000 $559,000 Additional information: 1. Net income for 2020 was $100,000 2. Cash dividends of $31,000 were declared and paid. 3. Bonds payable amounting to $59.000 were redeemed for cash $59.000 4. Common stock was issued for $41.000 cash. 5. Equipment that cost $49,000 and had a book value of $29.400 was sold for $35,400 during 2020; land was sold at cost. (a) Prepare a statement of cash flows foc 2020 using the indirectemethod./Showmaunts that decrease.cash flow with either sien Question 11 of 14 - /23 Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a - sign eg.-15,000 or in parenthesis eg. (15,000).) MIGITSU COMPANY Statement of Cash Flows $ Adjustments to reconcile net income to $ w Question 11 of 14 -/23 III 1 $ > e Textbook and Media Save for Later Attempts: 0 of 4 used Submit