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Presented below are data taken from the records of Carla Company. Cash Current assets other than cash Long-term investments Plant assets December 31, 2020 $15,000
Presented below are data taken from the records of Carla Company. Cash Current assets other than cash Long-term investments Plant assets December 31, 2020 $15,000 85,200 9,900 338,100 $448,200 December 31, 2019 $7,900 59,700 53,300 215,600 $336,500 $40,200 22,100 Accumulated depreciation Current liabilities Bonds payable Common stock Retained earnings -0- $20,100 40,300 75,100 251,900 60,800 $448,200 251,900 22,300 $336,500 Additional information: 1. Held-to-maturity debt securities carried at a cost of $43,400 on December 31, 2019, were sold in 2020 for $33,900. The loss (not unusual) was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $50,300 and were 80% depreciated were sold during 2020 for $8,100. The loss was incorrectly charged directly to Retained Earnings. 3. Net income as reported on the income statement for the year was $57,200. 4. Dividends paid amounted to $7,240. 5. Depreciation charged for the year was $20,140. Prepare a statement of cash flows for the year 2020 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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