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Prepare the ash flow statement for Kent Incorporated for the year ended December 31, 2020. Kent Incorporated Balance Sheet For 121312019 and 123 122020 $178,000
Prepare the ash flow statement for Kent Incorporated for the year ended December 31, 2020. Kent Incorporated Balance Sheet For 121312019 and 123 122020 $178,000 Accounts receivable 128.000 Inventory 224,000 20,000 Prepaid expenses Total current assets $200,000 140,000 200,000 20.000 560,000 622.000 (132,000) $1,050,000 $180.000 176.000 Plant and equipment Accumulated depreciation Totalassets $9:46,000 Accounts payable Accrued expenses 136,000 120,000 300.000 0 Total current det 306 000 Loug Term loan 140,000 Common stock(par value) 110.000 Common stock paid in capital) 100 000 110.000 310 000 Retained earnings 94.000 $1,050,000 Total debt aud equity Kent Incorporated Income Stateuleut For the ear Euded 1231-2020 Revenue lll credit Cost of goods sold $368 000 (120.000) $248.000 (88,000) Gross profit Selling, general and admin. Expenses Depreciation expense Operating income Interest expense Lamings before taxes SID: 000 (8,000) Net income $68.000 Preferred stodl: dividends (20 000) Net income avail. To commou shareholders $28.000
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