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please correct what i've done wrong Windsor, Inc.'s comparative balance sheets are presented below: Windsor, Inc. Comparative Balance Sheets December 31 2020 Cash $ 16,900
please correct what i've done wrong
Windsor, Inc.'s comparative balance sheets are presented below: Windsor, Inc. Comparative Balance Sheets December 31 2020 Cash $ 16,900 Accounts receivable 25.000 Investments 20,050 Equipment 59,850 Accumulated depreciation-equipment (14,250) Total $107,550 2019 $17,700 22.200 15,850 70.050 (10.000) $115,800 Accounts payable Bonds payable Common stock Retained earnings Total $ 14,750 10.200 50,500 32,100 $107,550 $ 11,050 30,200 45,100 29,450 $115,800 Additional information: 1. Net income was $18,250. Dividends declared and paid were $15,600. 2. Equipment which cost $10,200 and had accumulated depreciation of $1,700 was sold for $3,700. 3. No noncash investing and financing activities occurred during 2020. (a) - Your answer is partially correct. Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a - sign e g. -45,000, or in parenthesis e.g. (45,000).) Windsor, Inc. Statement of Cash Flows For the Year Ended December 31, 2020 For the Year Ended December 31, 2020 Cash Flows from Operating Activities 18250 Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 5950 Loss on disposal of Plant Assets 4800 Increase in Accounts Receivable 2800 Increase in Accounts Payable 3700 Net Cash Provided by Operating Activities 29900 Cash Flows from Investing Activities Purchase of Investments 3700 Increase in Accounts Payable 4200 Net Cash Provided by Investing Activities 500 Cash Flows from Financing Activities 5400 Issuance of Common Stock Payment of Dividends Retirement of Bonds L 15600 20000 Net Cash Provided by Financing Activities 30200 Net Decrease in Cash 800 Cash at Beginning of Period 17700 Cash at End of Period 16900Step by Step Solution
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