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Problem 5- Use the following information to prepare the Statement of Cash Flows Luck Corporation Forthe Year Ended December 31, 2020 Net Income $ 13,640,000
Problem 5- Use the following information to prepare the Statement of Cash Flows Luck Corporation Forthe Year Ended December 31, 2020 Net Income $ 13,640,000 Depredalton Expense S 1,300,000 Amortization of Patent S 150,000 Sale of land $ 1, 000,000 Gain 1, 200,000 Sale of building $ 200,000 LOSS 100,000 Proceeds from Issuance of Common Stock 2,000,000 Purchase of Equipment S 350,000 Payment of Cash Dividend S 400,000 Sale of Equipment $ 350,000 LOSS 500,000 Select Balance Sheet Information: 12/31/20 1/1/20 Cash $ 31,320,000 $ 14,250,000 Accounts Receivable S 5,500,000 $ 5,900,000 Inventory 7,350,000 S 6.880,000 Accounts Payable S 5, 100,000 S 4,650,000
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