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Stellar Inc., a greeting card company, had the following statements prepared as of December 31, 2020. STELLAR INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31,

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Stellar Inc., a greeting card company, had the following statements prepared as of December 31, 2020. STELLAR INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 12/31/2012/31/19 Cash $6,100 $6,900 Accounts receivable 61,900 50,500 Short-term debt investments (available-for-sale) 34,800 18,200 Inventory 39,900 59,800 Prepaid rent 4,900 4,000 Equipment 155,500 131,200 Accumulated depreciation-equipment Copyrights (34,800) 45,700 $314,000 (25,300) 50,200 $295,500 Total assets Accounts payable $46,200 $39,700 Income taxes payable 6,100 4,000 7.900 Salaries and wacec navahle 4.000 Salaries and wages payable 7,900 4,000 Short-term loans payable 7,900 10,000 Long-term loans payable 59,800 68,600 Common stock, $10 par 100,000 100,000 Contributed capital, common stock 30,000 30,000 Retained earnings 58,200 $314,000 37,100 $295,500 Total liabilities & stockholders' equity STELLAR INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020 Sales revenue $335,575 Cost of goods sold 173,200 Gross profit 162,375 Operating expenses 119,100 Operating income 43,275 Interest expense $11,400 Gain on sale of equipment Income before tax 33.875 Income before tax 33,875 Income tax expense 6,775 Net income $27,100 Additional information: 1. Dividends in the amount of $6,000 were declared and paid during 2020. 2. Depreciation expense and amortization expense are included in operating expenses. 3. No unrealized gains or losses have occurred on the investments during the year. 4. Equipment that had a cost of $20,100 and was 70% depreciated was sold during 2020. Prepare a statement of cash flows using the direct method. (Show amounts in the investing and financing sections that decrease cas flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) STELLAR INC. Statement of Cash Flows e Textbook and Media Save for Later

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