Sweet Corporation's balance sheet at the end of 2019 included the following items, Current assets (Cash $82,000) Land Buildings Equipment Accum. depr buildings Accum. depr.equipment Patents Total $236,160 31,250 121,160 91,250 (31,160) (11,000) 41,160 $478,820 Current liabilities Bonds payable Common stock Retained earnings Total $151,160 101,160 181,250 45.250 $478,820 The following information is available for 2020. 1. 2 3. 4. 5. 6. 7. 8. 9 Net income was $57,090. Equipment (cost $21.160 and accumulated depreciation $9,160) was sold for $11,160 Depreciation expense was $5,160 on the building and $10,160 on equipment, Patent amortization was $2,500. Current assets other than cash increased by $29.000. Current liabilities increased by $14.160. An addition to the building was completed at a cost of $28,160, Along-term investment in stock was purchased for $16,000. Bonds payable of $51.250 were issued. Cash dividends of $30,000 were declared and paid. 10. Treasury stock was purchased at a cost of $11,000 Your answer is partially correct. Prepare a statement of cash flows for 2020. (Show amounts that decrease cash flow with either a - signes -15,000 or in parenthesis e.s. (15,000).) SWEET CORPORATION Statement of Cash Flows December 31, 2020 Cash Flows from Operating Activities 57090 Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Loss on Sale of Equipment Depreciation Expense Prepare a balance sheet at December 31, 2020. (Show only totals for current assets and current liabilities.) (List Property, Plant and Equipment in order of Land, Building and Equipment.) SWEET CORPORATION Balance Sheet December 31, 2020 Assets Current Assets Long-term Investments SWEET CORPORATION Statement of Cash Flows December 31, 2020 Cash Flows from Operating Activities Net Income 57090 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Loss on Sale of Equipment Depreciation Expense Increase in Current Assets (Other than Cash) Increase in Current Liabilities > Net Cash Provided by Operating Activities Cash Flows from investing Activities Net Cash Provided by Operating Activities Cash Flows from Investing Activities Addition to Building Purchase of Treasury Stock Sale of Equipment Net Cash Used by Investing Activities Cash Flows from Financing Activities Issuance of Bonds Purchase of Treasury Stock Payment of Dividends Net Cash Provided by Financing Activities Net Increase in Cash Cash at Beginning of Period Net Increase in Cash Cash at Beginning of Period