Question
Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash$14,700 $11,000 Accounts receivable21,100 23,800 Land20,000 25,600 Buildings70,000
Rojas Corporation's comparative balance sheets are presented below.
ROJAS CORPORATION
Comparative Balance Sheets
December 31
2020
2019
Cash$14,700
$11,000
Accounts receivable21,100
23,800
Land20,000
25,600
Buildings70,000
70,000
Accumulated depreciationbuildings(15,400
)
(10,700
)
Total$110,400
$119,700
Accounts payable$12,300
$28,100
Common stock74,600
73,800
Retained earnings23,500
17,800
Total$110,400
$119,700
1.Net income was $23,000. Dividends declared and paid were $17,300.
2.No noncash investing and financing activities occurred during 2020.
3.The land was sold for cash of $4,700.
Prepare a statement of cash flows for 2020 using the indirect method
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Advanced Accounting
Authors: Debra C. Jeter, Paul K. Chaney
7th edition
1119373204, 9781119373254 , 978-1119373209
