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Presented below are data taken from the records of Coronado Company. December 31, 2020 December 31, 2019 Cash $14,900 $8,000 Current assets other than cash

Presented below are data taken from the records of Coronado Company.

December 31, 2020

December 31, 2019

Cash

$14,900

$8,000

Current assets other than cash

84,300

59,700

Long-term investments

9,900

53,100

Plant assets

332,400

216,800

$441,500

$337,600

Accumulated depreciation

$20,200

$40,400

Current liabilities

39,800

21,900

Bonds payable

74,500

0

Common stock

253,200

253,200

Retained earnings

53,800

22,100

$441,500

$337,600

Additional information:

1. Held-to-maturity debt securities carried at a cost of $43,200 on December 31, 2019, were sold in 2020 for $34,000. The loss (not unusual) was incorrectly charged directly to Retained Earnings.
2. Plant assets that cost $49,500 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 $56,700.
4. Dividends paid amounted to $14,000.
5.

Depreciation charged for the year was $19,400.

image text in transcribed

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 eg. (15,000).) CORONADO COMPANY Statement of Cash Flows $ Adjustments to reconcile net income to $ $

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