Question 3 View Policies Current Attempt in Progress Below is the comparative balance sheet for Larkspur Corporation. Dec. 31, 2020 Dec 31, 2019 Cash $16,400 $21,000 ess Short-term investments 25,300 19,200 pport Accounts receivable 42,800 45,200 Allowance for doubtful accounts (1,800) (2,000) 2,500 urveys Prepaid expenses 4.200 Inventory 65,700 Land 50,100 81,700 50,100 124,800 (29,700) Buildings 72,900 Accumulated depreciation-buildings (22,900) 53,500 Equipment 46,100 Accumulated depreciation-equipment (18,900) (15,500) Delivery equipment 39,100 39.100 Accumulated depreciation-delivery equipment (22,200) (20,700) -O- Patents 14,800 $380,100 $300,700 Accounts payable $26,200 $15,900 6,000 Short-term notes payable (trade) 4,000 Accrued payables 2,900 4,600 Mortgage payable 72,400 53,300 Bonds payable 49,800 62,200 Common stock 140,500 102.700 Paid-in capital in excess of par 10,000 4,000 Retained earnings 52.000 74.300 $380,100 $300,700 Dividends in the amount of $14,900 were declared and paid in 2020. From this information, prepare a worksheet for a statement of cash flows. Make reasonable assumptions as appropriate. The short-term investments are considered available for sale and no unrealized gains or losses have occurred on these securities. (Enter amounts either in debitor in credit column in Statement of Cash Flows Effects except for totals.) LARKSPUR CORPORATION WORKSHEET FOR PREPARATION OF STATEMENT OF CASH FLOWS For the Year Ended December 31, 2020 2020 Reconciling Items Balance at 12/31/19 Balance at 12/31/20 Debits Debit Credit Cash $21,000 $ $16.400 Short-term investments 19,200 25.300 Accounts receivable 45.200 42.800 Prepaid expenses 4.200 81.700 Inventory 2.500 65,700 50,100 72.900 Land 50,100 Buildings 124.800 Equipment 53.500 46,100 39.100 Equipment (Delivery) 39.100 Patents 14.800 Total debits $361.800 $452.700 Credits Accounts payable $15,900 $ $26,200 Notes payable 6,000 4,000 Accrued liabilities 4,600 2,900 Allowance for doubtful accounts 2,000 1.800 Accumulated Depreciation-Building 22,900 29.700 Accumulated Depreciation-Equipment 15,500 18,900 Accumulated Depreciation-Delivery Equipment 20,700 22,200 Mortgage payable 72.400 53,300 62,200 Bonds payable 49,800 Common stock 140,500 102,700 4,000 10,000 Paid-in capital in excess Retained earnings 52,000 74,300 $452.700 Total credits $361,800 Larkspur Corporation Statement of Cash Flows Effects Totals Totals