Prepare a statement of cash flows for the year ending December 31, 2020 for XYZ company

December 31

2019 2020

Cash.................................... ....................... $42,000....................... $63,000

Accounts receivable (net).................................... ......................... 84,000....................... 151,200

Inventory.................................... ....................... 168,000....................... 201,600

Land.................................... ......................... 58,800......................... 21,000

Equipment.................................... ....................... 504,000.................................... 789,600

TOTAL........................ ......... $856,800..... $1,226,400

Accumulated depreciation.................................... ....................... $84,000..................... $115,600

Accounts payable.................................... ......................... 50,400......................... 86,000

Notes payable - Short-term.................................... ......................... 67,200......................... 29,400

Notes payable - Long-term.................................... ....................... 168,000....................... 302,400

Common stock.................................... ....................... 420,000....................... 487,200

Retained earnings.................................... ......................... 67,200.................................... 205,800

TOTAL......... $856,800..... $1,226,400

Additional data for 2020:

1. Net income was $235,200.

2. Depreciation was $31,600.

3. Land was sold at 40,000 and its original cost 37,800.

4. Dividends of $96,600 were paid.

5. Equipment was purchased for $84,000 cash.

6. A long-term note for $201,600 was used to pay for an equipment purchase.

7. Common stock was issued to pay a $67,200 long-term note payable.