statement of cash flow

Difference 1 2 Smack Dab Inc 3 Comparative Balance Sheets 4 December 31 5 2020 2019 6 ASSETS 7 Cash $ 500 S 750 8 Accounts Receivable 1,300 1.100 9 Allowance for Doubtful Accounts (250) (200) 10 Inventory 4.500 4.200 11 Short-term Investments 450 350 Plant, Property & Equipment 6,000 3.500 13 Accumulated Depreciation (1.500) (1.300) 14 Goodwill 500 500 15 S 11.500 s 10.900 16 (250) 200 (50) > 300 -200 50 4300 100 -500 200 100 300 (200) S $ 1,000 750 350 200 (150) (50) 400 18 LIABILITIES & EQUITY 19 Accounts Payable 20 Accrued Liabilities 21 Utmed Revete Income Taxes Payable 23 Bonds Payable Long-Term Liabilities Preferred Stock 26 Common Stock Dinuitet Problem Accounts 800 900 400 350 2.100 600 500 1.200 20 2,000 500 1.000 1.200 300 200 150 50 50 -100 -100 500 30 (100) (100) 500 on 00 Solution H M N o 300 300 (350) 300 300 13.50 250 A B D E F G 26 Common Stock 1.200 1.200 27 Paid-in-Capital 3,000 2,700 28 Retained Earnings 2.000 1.700 29 Treasury Stock (700) (350) 30 $ 11.500 $ 10.900 31 32 Additional Information: 33 1. Net income for 2020 was $450. 34 2. $500 of bonds were retired and new bonds of $400 issued. 35 3. Land of $300 was purchased. No land was sold in 2020. 36 4. Equipment costing $30 (net book value was $10) was sold for $8. 37 5. No long-term liabilities were incurred in 2020. 38 6. $800 of new.preferred stock was issued in 2020. 39 40 >