Question 5 of 5 View Policies Show Attempt History Current Attempt in Progress Tamarisk Inc. had the following balance sheet at December 31, 2019. TAMARISK INC. BALANCE SHEET DECEMBER 31, 2019 Cash $ 25,140 Accounts payable $ 35,140 Accounts receivable 26,340 Bonds payable 46,140 Investments 32,000 Common stock 105.140 Plant assets (net) 86,140 Retained earnings 28.340 Land 45,140 $ 214,760 $ 214,760 During 2020, the following occurred. 1. Tamarisk liquidated its available-for-sale debt investment portfolio at a loss of $ 10,140. 2. A tract of land was purchased for $ 43,140. 3. An additional $ 30,000 in common stock was issued at par. 4. Dividends totaling $ 15,140 were declared and paid to stockholders. 5. Net income for 2020 was $ 40,140, including $ 17,140 in depreciation expense. 6. Land was purchased through the issuance of $ 35,140 in additional bonds. 7. At December 31, 2020, Cash was $ 75,340, Accounts Receivable was $ 47,140, and Accounts Payable was $ 45,140. TAMARISK INC. Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income $ Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ Increase in Accounts Receivable (20,800) Increase in Accounts Payable 10000 Loss on Sale of Investments Loss on Sale of Investments Net Cash Provided by Operating Activities Cash Flows from Investing Activities Loss on Sale of Investments Purchase of Land Cash Flows from Investing Activities Cash Flows from Financing Activities Issuance of Common Stock Cash Flows from Financing Activities Issuance of Common Stock Payment of Cash Dividends Net Cash Provided by Financing Activities Cash Flows from Financing Activities I ON! $ Land purchased through issuance of $ of bonds