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Sportlife Gym's partial balance sheet for the current year (2020) and the prior year (2019) are listed below: 2020 2019 Cash $48,000 $56,000 Accounts Receivable
Sportlife Gym's partial balance sheet for the current year (2020) and the prior year (2019) are listed below: 2020 2019 Cash $48,000 $56,000 Accounts Receivable 10,000 8,000 Inventory 12,000 8,000 Buildings 30,000 20,000 Land 18,000 10,000 Accounts Payable 2,000 5,000 Notes Payable (LT) 7,000 10,000 Common Stock 10,000 5,000 Other important information for Sportlife Gym: The 2020 income statement had $2,000 in depreciation and $20,000 in net income. Cash dividends of $5,000 were paid out to shareholders in 2020. Required: Prepare a 2020 Statement of Cash Flows for Sportlife Gym using the indirect method for the operating cash flows and using th provided. (Download the template, use it to prepare the statement of cash flow thon
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