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Question 21 45 pts Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. (In your work that
Question 21 45 pts Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. (In your work that you will submit, show the full Statement of Cash Flows in proper format. For your answer on Canvas, list your net cash provided/used by operating activities, net cash provided/used by investing activities, and net cash provided/used by financing activities.) Dec. 31. 2019 A comparative balance sheet for Artie Company appears below: ARTIE COMPANY Comparative Balance Sheet Dec. 31. 2020 Assets Cash $ 34,000 Accounts receivable 18,000 Inventory 25,000 Prepaid expenses 6,000 Long-term investments -0- Equipment 60,000 Accumulated depreciation-equipment (20.000) Total assets $123.000 $11,000 13,000 17,000 9,000 17,000 33,000 (15.000) $85.000 Liabilities and Stockholders' Equity Accounts payable $ 17,000 Bonds payable 36,000 Common stock 40,000 Retained earnings 30.000 Total liabilities and stockholders' equity $123.000 $ 7,000 45,000 23,000 10.000 $85.000 Additional information: 1. Net income for the year ending December 31, 2020 was $35,000. 2. Cash dividends of $15,000 were declared and paid during the year. 3. Long-term investments that had a cost of $17,000 were sold for $14,000. 4. Sales for 2020 were $120,000
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