Please complete the statement of cash flow

TEXAS Corporation Income Statement for Year Ended December 31, 2020 Sales 5 6,500,000 Less: Cost of Goods Sold M Gross Prot 1,100,000 Less: Selling, General 0t Administrative Expense 260,000 Operating Prot 1,040,000 Less: Amortization Expense 150,000 Earnings before Interest and Taxes 890,000 Less: Interest Expense 90,000 Earnings before Taxes 300,000 Less: Taxes {50%} $00,000 Net Income W300 The Bermuda College Assessment #1 Fall 2020 Finance I: MGN 2240 ANSWER SHEET TEXAS Corporation Statement of Cash Flows For Year Ended December 31, 2020 A. Parsons Fall 2020 19Question D-Z Preparing a Cash Flow Statement Given the nancial information for the TEXAS Corporation, prepare a Statement of Cash Flows for the year ended December 31, 2020. TEXAS Corporation Balance Sheets ASSETS 2019 2020 Cash $145,000 $150,000 Marketable Securities 1?5,000 160,000 Accounts Receivable 240,000 220,000 Inventories 230,000 275,000 lnvestrnents 20,000 55,000 Total current assets 0,000 0,000 Plant and Equipment 1,300,000 1,550,000 Less Accumulated Amortization (450,000) (600,000) Net Plant and Equipment 350,000 250,005! Total Assets $1,210,000 1 10 000 LIABILITIES AND SHAREHOLDERS' EQUITY Accounts Payable $ 1 10,000 $ 85,000 Notes Payable 65,000 10,000 Accrued Expenses 30,000 5,000 Income Taxes Payable 5,000 10,000 Bonds Payable {2013} 800,000 900,000 Common Stock ( 100,000 shares) 200,000 200,000 Retained Earnings 500 000 600 000 Total Liabilities and ShareholdersI Equity ELM mm