Question 1 of 1 > 11.01 / 20 View Policies Show Attempt History Current Attempt in Progress Oriol Inc. has the following balance sheet at December 31, 2019 Cash Accounts receivable Investments Plant assets net! Land ORIOLE INC BALANCE SHEET DECEMBER 31, 2019 S22,220 Accounts payable 23,420 Notes payable long-term 34220 Common stock 91.000 Retained earnings 42.220 S203.000 S32.220 43.220 102.220 25,420 $200,000 During 2020, the following occurred. 1. 2. 3. 4. 5. 6. 7. B. Oriols Inc. sold part of its debt investment portfolio for $15.286. This transaction resulted in a sain of $3,68for the firm. The company classifies these investments as available for sale. Atract of land was purchased for $15,220 cash. Long-term notes payable in the amount of $16.286 were retired before maturity by paying $16,205 cash An additional $20,296 in common stock was issued at par. Dividends of S8,496 wers declared and paid to stockholders. Net income for 2020 was $34.220 after allowing for depreciation of $11,296. Land was purchased through the issuance of $37.220 in bonds. At December 31, 2020. Cash was $29,220, Accounts Receivable was S43.820, and Accounts Payable remained at S32.220. Your answer is correct. Prepare a statement of cash flows for 2020. (Show amounts that decrease cash flow with either a-signes -15,000 or in parenthesis eg. (15.000 ORIOLE INC. Statement of Cash Flows For the Year Ended December 21, 2020 Cash Flows from Operating Activities V Netcom 34220 Adjustments to reconcile net income to Net Ceah Provided by Operating Activities Adjustments to reconcile net income to Net Cash Provided by Operating Advice Depreciation Expense 11286 Cain on Sale of Investments -3685 Increase in Account Receivable -20400 -12800 Net Cash Provided by Operating Acties Cash Flows from Investing Activities Purchase of Land -15220 Sale of investments 15286 Net Cash Provided by Investing Activities 66 Cash Flows from Franding Activities Retirement of Notes Payable 16286 lasuance of Common Stock 20286 Payment of Cash Dividends -3486 NetCash Used by Financing Activities -4486 Net increase in Cash 17000 Cash at Beginning of Year 2:22:20 Cash at End of Yew $ 39220 Noncah Investing and Financing Activities Land purchased through issuance of S 37.220 of bonds e Textbook and Media List of Accounts Your answer is partially correct. Prepare an unclassified balance sheet as it would appear at December 31, 2020. (ListAssets in order of liquidity) ORIOLE INC. Balance Sheet Assets 39220 Account Reclable 43820 Investments in Stock and Bonds 22620 Accumulated Depreciation Equipment -11286 Land 94650 S 270034 Liabilities and Stockholders' Equity Accounts Payable S 32220 Notes Payable 26934 Bonda Payable 37220 Income Tax Payable 34220 Didenda Payable -8485 270034 e Textbook and Media List of Accounts Your answer is incorrect. Compute two cash flow ratios (Round ratios to 2 decimal places. eg. 0.62) Current cash debt coverage ratio Cash debt coverare ratio :1
