PREPARE A STATEMENT OF CASH FLOWS FOR THIS PROBLEM

Prepare for this problem a cash flow statement TIepass Problem 20 The operations of the Bloated Goat Caf, a small food service operation, are becoming ked for your help in understanding the more comp condensed balance sheets and the additional information provided. Sharon Nanny, the owner, has The Bloated Goat Caf Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 20X2 $ 15,000 15,000 25,000 10,000 240,000 (20,000) $285,000 er $12,000 14,000 20,000 5,000 320,000 (50,000) $321,000 Cash Accounts Receivable Inventory Investments (noncurrent) Equipment Accumulated Depreciation Total Assets Current Liabilities: $ 18,000 10,000 5,000 $ 10,000 10,000 10,000 Accounts Payable Note Payable (current) Dividends Payable Noncurrent Liabilities: Note Payable Common Stock Treasury Stock Retained Earnings Total Liabilities and Owners' Equity . 171,000 100,000 (50,000) 152,000 100,000 (40,000) 70,000 $321,000 40,000 $285,000 The Statement of Cash Flows 221 Additional information: 1. Investments costing $10,000 were sold for $15,000. 2. Dividends paid during 20X2 totaled $10,000. 3. The cafe's van, which cost $20,000, was sold for $5,000. Its net book value on the date of sale was $3,000. 4. Assume that the retained earnings account is affected only by dividends declared and the results of operations (net income). 5. Assume current liabilities are paid on a timely basis