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please solve with computations The comparative balance sheets for Kingbird Corporation show the following informition. Additional data rebated to 2020 are as follows. 1. Fquipment
please solve with computations
The comparative balance sheets for Kingbird Corporation show the following informition. Additional data rebated to 2020 are as follows. 1. Fquipment thut had cost $10,900 and was 40 depreciated at the of dispocil was sold for $2.400. 2. $10,000 of the lang termnotepayable was paid by issuing common stock. 3. Casholidends pala were 55.000. 4 On danuary 1,2020, the buileing was compiefely destroyed by a nood insurance proceeds on the building were. 530,000 (net of $2000 taxes). 5. Oebtinwestments (ivailable for-sale) were sald at 51,700 above their cost the company has made similar sales and investments in the past 6. Cash was pad for the arqubition of equipnent. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with Proceeds from Flood Damage to buliding Net Cash Provided by investing Activitics Cash Flows trom Financing Activities Payment of Short-term Note Payable Payment of Dividends Net Cash Provided by Financing Activities i Netincrease in Cash Cash, January 1,2020 Cash, December 31,2020 Supplemental disclosures of cash flow information: Cash Paid During the Year for interest Cash Paid During the Year for income Taxes Noncash Investing and Financing Activibes it Purchased Equipment by lssuing Notes Payable Retired Notes Payable by lssuing Common Stock 5 5 Step by Step Solution
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