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Question 15 (10 points) Marshmallow Inc Statement of Financial Position December 31st, 2020 2020 2019 Cash $21,000 $34,000 Accounts Receivable 104,000 54,000 Inventory 220,000
Question 15 (10 points) Marshmallow Inc Statement of Financial Position December 31st, 2020 2020 2019 Cash $21,000 $34,000 Accounts Receivable 104,000 54,000 Inventory 220,000 189,000 Land 71,000 110,000 Equipment 260,000 220,000 Accumulated Depreciation (69,000) (42,000) Equipment Total $607,000 $545,000 Accounts Payable $52,000 $59,000 Bonds Payable 150,000 200,000 Common Shares 214,000 164,000 Retained Earnings 191,000 122,000 Total $607,000 $545,000 Other Information: .Net income for the year ended December 31st, 2020 was $129,000 Cash dividends of $60,000 were declared and paid. . Bonds payable of $50,000 were retired through common shares issuance Land was sold at a gain of $5000 No equipment was sold during the year In the space provided below, prepare the statement of cash flows using the indirect method:
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