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Please show calculations and use excel. Thanks in advance! The accounting records of Guci Corp. show the following data for the current year. Balance Sheet
Please show calculations and use excel. Thanks in advance!
The accounting records of Guci Corp. show the following data for the current year. Balance Sheet 2019 2020 December 31 Cash. Accounts receivable Merchandise inventory Equipment, net. Total assets. $ 100 300 100 1,800 $2,300 $ 65 200 300 2,200 $2,765 Difference $ (35) (100) 200 400 $465 $ (35) (25) 100 Accounts payable Salaries payable. Bonds payable Common stock (no-par) Retained earnings Total liabilities and stockholders' equity $ 275 50 600 1,100 275 $2,300 $ 240 25 700 1,200 600 $2,765 100 325 $465 Income Statement For Year Ended December 31, 2020 Revenues.. Costs of goods sold Depreciation Other expenses Net income $3,000 1,700 400 385 $ 515 Additional information 1. Equipment was sold for its book value of $400. 2. Equipment purchased during the year was $1,200. 3. Cash dividends declared and paid were $190. Required Prepare the statement of cash flows for Guci Corp for the year ended December 31, 2020, using the indirect method to present cash flows from operating activitiesStep by Step Solution
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