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Question. Williams Corp. has provided the following information for the year ended December 31, 2020 Williams Corp Comparative Balance Sheet December 31, 2019 and 2020
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Williams Corp. has provided the following information for the year ended December 31, 2020 Williams Corp Comparative Balance Sheet December 31, 2019 and 2020 2020 2019 Cash Accounts Receivable Merchandise Inventory Prepaid Expenses Long-term investments Plant Assets Accumulated Depreciation - Plant Assets Total Assets $15,000 29,000 56,000 20,000 60,000 330,000 (88,000) $422.000 $5,000 36,000 29,000 64,000 50,000 351,000 (102,000) $433.000 Accounts Payable $58,000 Accrued Liabilities 7,000 Bonds Payable 50,000 Common Stock 173,000 Retained Eamings 134.000 Total Liabilities and Stockholders' Equity $422.000 $70,000 3,000 100,000 153,000 107.000 $433.000 Additional information provided by the company includes the following: 1. Held-to-maturity securities carried at a cost of $25,000 on December 31, 2019, were sold in 2020 for $30,000 2. Fully depreciated plant assets that cost $57,000 were sold during 2020 for $2,000 3. During 2020, the company repaid $20,000 of bonds payable by issuing common stock 4. Dividends were paid in 2020 were $20,000 5. Depreciation charged for the year was $43,000. Prepare the 2020 statement of cash flows, using the indirect method. You must use the Excel worksheet provided in the assignment for your problem. No problems will be accepted using any other method Step by Step Solution
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