Presented below is a statement of cash flows for Plum, Inc, for the year ended December 31, 2020 Also shown is a partially completed comparative balance sheet as of December 31, 2020 and 2019 PLUM, INC. Statesent of Cash Flows For the year ended December 31, 2020 Cash flows fron operating activities: Net income $ 27,000 Add (deduct) itess not affecting cash: Depreciation expense 135,000 Decrease in accounts receivable Increase in inventory Increase in short-tere debt Increase in notes payable 69,000 (21,000) 15,000 36,000 (18,000) $ 243,000 Decrease in accounts payable Net cash provided by operating activities Cash flows from investing activities: Purchase of equipment Purchase of buildings Net cash used by investing activities Cash flous from financing activities: Cash used for retirement of long-ters debt Proceeds fron issuance of common stock Payment of cash dividends on conmon stock Net cash used by financing activities $(150,e0e) (144,000) (294,000) S(75,000) 30,000 (9,000) (54,000) $(105,000) Net decrease in cash for the year PLUM, INC Balance Sheets December 31, 2020, and 2019 Assets 2020 2019 Current assets: Cash $ 264,000 219,000 Accounts receivable Inventory Total current assets 168,000 Land 120,e00 Buildings and Equipment Less: Accumulated depreciation Total land, buildings and equipment 780,000 (369,000) Total assets Liabilities Current liabilities: Short-term debt $ 108,000 87,000 $ 96,000 Notes payable Accounts payable Total current liabilities Long-term debt Stockholders' Equity 255,000 $120,000 Common stock Retained earnings Total stockholders equity Total liabilities and stockholders' equity KA SHorE-tern debt Notes payable Accounts payable $ 96,000 188,00a 87,000 Total current liabilities Long-term debt Stockholders' Equity 255,000 Common stock $120,000 Retained earnings Total stockholders' equity $ Total liabilities and stockholders' equity $ Required: (a.) Complete the December 31, 2020 and 2019 balance sheets. (b.) Prepare a Statement of Changes in Retained Earnings for the year ended December 31 2020. Essay Toolbar navigation EE AA B IUS

Presented below is a statement of cash fiows for Plum, Inc, for the year ended December 31, 2020 Also shown is a partielly compieted conparative balance sheet es of December 31 2020 nd 209 PLUM, INC. Statement of Cash Flows For the year ended December 31, 2020 Cash flows from operating activities: Net income $ 27,000 Add (deduct) items not affecting cash: Depreciation expense n02 135,000 69,000 (21,00e) 15,000 36,000 (18,000) $ 243,000 Decrease in accounts receivable Increase in inventory Increase in short-tern debt Increase in notes payable Decrease in accounts payable Net cash provided by operating activities Cash flous fron investing activities Purchase of equipment Purchase of buildings Net cash used by investing activities Cash flous fron financing activities: Cash used for retirenent of long-term debt Proceeds from issuance of common stock Payment of cash dividends on common stock Net cash used by financing activities Net decrease in cash for the year $(150,000) (144,000) (294,000 S (75,000) 30,000 (9,000) (54,000) SCies,0 PLUM, INC Balance Sheets December 31, 2020, and 2019 219 202e r fr grdng This quesion will be sent to pour s o Balance Sheets December 31, 2020, and 2019 2019 2020 Assets Current assets: $ 264,000 219,000 Cash Accounts receivable Inventory Total current assets 168,000 $ 120,000 Land 780,000 Buildings and Equipment Less: Accumulated depreciation Total land, buildings and equipment Total assets Liabilities Current liabilities: Short-term debt Notes payable Accounts payable (369,000) $ 96,000 108,000 87,000 Total current liabilities 255,000 Long-term debt Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders equity $120,000 Required: (a) Complete the December 31, 2020 and 2019 baiance aheets. ND Prepare a Statement of Changes in Retained Earnings for the yeer ended December 31 2020