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Please prepare a statement of cash flows on a separate sheet of paper using the information provided. The following information is known for Healthy Masks,
Please prepare a statement of cash flows on a separate sheet of paper using the information provided. The following information is known for Healthy Masks, Inc: (NOTE: At the end of the exam there is a place for you to upload your work, along with any other work you want to provide for the other problems or the multiple choice with math)! a. Net income was $26,800 b. Depreciation expense was $11.700 c. Bought equipment for cash $48,900 d. Paid $14.700 on the long-term note payable e. Issued new shares of stock for $38,050 for cash f. Dividends of $650 were declared and paid Healthy Masks had the following comparative balance sheets for 2020 vs. 2019: 2019 2020 Cash 73,250 63,500 15.250 21,350 Accounts receivable 18,000 23.450 Inventory 209.250 160,350 (57,450) (45.750) 19,000 16,500 2.000 2.700 2,000 Equipment Accumulated Depreciation Accounts payable Wages payable Notes payable Contributed capital Retained earnings 56,300 71.000 65.900 103,950 58,850 85.000
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