Questions 2 The Man Corporation had the following financial statements for the year ended December 31, 2020. Assume the accounts normal or credit balances Maple Corporation Balance Sheets December 31, 2019 and 2018 O 2019 2011 nce DSC $18,100 $ 46, 700 2700 inventory $84 800 71,700 36.000 232 800 96.500 5358,800 Accumulated depreciation Total assets 77 800 2151 92100 $316 200 equipment $ 7400 Short-term notes payable Accounts payable Long-term notes payable Common stock $10 par Padin capital in excess of par-common stock Retained earnings Total liabilities & stockholders equity 7,400 50 800 86.600 12000 106 200 95800 _$858690 $ 0 61 800 101, 100 10.000 85600 57700 7 16720 Maple Corporation Income Statement For the Year Ended December 31, 2019 Sales al credit) Cost of goods sold Gross profit $994 500 363.600 630.900 MacBook Pro Question 5 on had the following financial statements for the year ended December 31, 2020. Assume the accounts normal or credit balances Maple Corporation Balance Sheets December 31, 2019 and 2018 Difference Inces) 2019 2018 $64.800 71,700 86,000 232.800 96,500 $358 800 $18,100 99.600 77 600 213,000 92100 $316 200 $ 46,700 27,3001 8.400 197800 4400 mulated depreciation equipment T imes and equity Short-term notes payable Accounts payable Long term notes payable Common wock $10 par Padina capital in excess of par-common stock Roland samnings To es & stockholders equity $ 7,400 50.800 86,600 12,000 106.200 95,800 $358,800 0 61,800 101. 100 10,000 85,600 57700 $316.2001 $ 7400 (11.000) (14 500) 2.000 20.600 38.100 Maple Corporation Income Statement For the Year Ended December 31, 2019 Sales al credit Cost of goods sold Gross profit $994,500 363.600 630,000 TRA Pro 50 800 86 600 12.000 100 200 61.800 101.100 10 000 5600 400 (11 000) 14 500 2000 2016 3100 3& ther guy Maple Corporation Income Statement For the Year Ended December 31, 2019 Sales al credt Cost of goods sold 5004 500 363.600 630.900 Operating expenses includes depreciation expense- equipment of $14 700 Income from operations Gain on sale of equipment 539.900 91.000 6.500 2200 4300 96,300 16,200 $79.100 Excess of other expenses Over other revenues Income before income taxes Loss income tax expense Net income 2019 addicional information: E n cox of 515,200 was sold for 511,400 during 2019. The equipment had a book value of 54.900 st 2) Equipment with a cost of $35.000 was purchased with cash The company borrowed causing short-term notes payable during 2019. During 2019 the company did not make paymon honorm les payable. The short-term note payable was not used for the purchase of inventory Campaments were made on the long-term notes payable during 2019. The company did not have any long term borowings income from operations Gaon sale of equipment Interest expense Excess of other expenses over other res ncome before income taxes e income tax expense Net income 100 2019 additional information: 1) E n t cost of 515.200 was sold for $11.400 during 2019. The equipment had a book value of $4.00 the time of the sale 23 Equipment with a cost of $35.000 was purchased with c h 3) The company borrowed cash using short-term notes payable during 2019. During 2010 the company did not make payments on its short-term notes payable. The short-term note payable was not used for the purchase of inventory 4) Cash payments were made on the long-term notes payable during 2019. The company did not have any long term borrowings 5) Common stock was issued for cash 5) Cash dividends in the amount of $41,000 were paid during 2019 REQUIRED Calculate the amount of total Cash Flows Provided/(Used) by Financing Activities on the Maple Corporation's Statement of Cash Flows for the year ended December 31, 2019. (If your answer indicates Cash Flows Used by Financing Activities, place a negative sign, les before your answer MacBook Pro