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Prepare the 2020 cash flow statement for Flashpoint Inc. using the indirect method to report cash flows from operating activities Below is additional data related
Prepare the 2020 cash flow statement for Flashpoint Inc. using the indirect method to report cash flows from operating activities Below is additional data related to transactions in 2020 as well as a partial balance sheet for 2020 and 2019. E: (Click the icon to view the partial balance sheet.) (Click the icon to view the 2020 transactions.) Data Table - X LELGIUGIUZULU CITU ZUEU 2020 2019 Current assets cas $ 44,000 $ 15,000 88,000 93,000 138,000 125,000 800 6.800 Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities Note payable (for inventory purchases) Accounts payable Accrued liabilities Income and other taxes payable $ 46,000$ 36,000 101,000 82,000 42,000 42,000 57.000 42.000 Print Done More Info Amortization expense $ 38,000 20,000 78,000 292,000 22.000 fic Issuance of long-term note payable to borrow cash Issuance of common shares for cash Cash received from sale of building Repurchase of own shares Loss on sale of building Purchase of equipment Payment of cash dividends Net income Purchase of long-term investment Issuance of long-term note payable to purchase patent Issuance of common shares to retire 554,000 of bonds 12,000 396.000 72,000 102 000 35,000 150.000 54 000 Print Done
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