PLEASE INCLUDE ALL CALCULATIONS

statement. Prepare, in good form (including headings), a statement of cash flows for 2020. The company paid dividends of $4,250 during 2020 2020 2019 Olive Corporation Balance Sheet As of December 31, Assets: Cash and cash equivalents Accounts Receivable Inventory Current Assets 541.900 24,000 20.000 95.900 $25.000 6.35 16.00 67.250 Equipment Less. Accumulated depreciation Land 42.000 -14,000 25,000 38.500 -7.000 10.000 Total assets $148.900 S108,750 Liabilities Accounts Payable Accrued Salaries Payable Rent Expense Payable Income Tax Payable Current Liabilities $17.500 5.500 2.200 6.900 32.100 $22.500 8.000 1.000 4.000 35,500 Long-term me payable Total Liabilities 50,000 $2.100 30.000 65.500 Stockholders' Equity Common stock Retained earnings 42.000 24.800 30.000 13.250 Total liabilities and stockholders' equity 148.900 S108.750 Ralvar Corporation Income Statement For the year ended December 31, 2020 Revenues Cost of goods sold Gross Profit S1470001 -84.000 563.000 Operating Expenses Depreciation experts Salary expense Insurance Expense Rent Expense Interest Expense Total Operating Expenses - 7.000 - 14.600 -2.500 10.000 -4.200 38300 Income froen Operations Income Tax Expense 24,700 5900 Netcome $17.00