Take me to the text Behemoth Manufacturing makes and sells integrated circuit boards. At the end of 2020, the income statement and comparative balance sheet were prepared as shown below Behemoth Manufacturing Balance Sheet As at June 30 2020 2019 Assets Current Assets Cash $300.545 $125.300 Accounts Receivable $233,300 $254.400 Merchandise Inventory $509,900 $456.800 Prepaid Expenses $21.500 $21.500 Total Current Assets $1,065.245 5958,000 Long Term Assets Land $22,100 Equipment $341,100 $341,100 Less: Accumulated Depreciation 5-107.000 $-98,600 Total Long-Term Assets $234,100 $264,600 Total Assets $1.299,345 $1,122,600 Liabilities Current Liabilities Accounts Payable Notes Payable. Current Portion Total Current Liabilities $312.900 $327,100 $33.600 524,100 5346 500 $351,200 Liabilities Current Liabilities Accounts Payable 5312,900 $327.100 Notes Payable. Current Portion $33,600 $24.100 Total Current Liabilities $346,500 $351.200 Notes Payablo, Long Term Portion $214.600 $191,300 Total Liabilities $561,100 $542.500 Shareholders' Equity Common Shares $293.000 $248.000 Retained Earnings $445,245 $332 100 Total Shareholders' Equity $738,245 $580,100 Total Liabilities and Equity $1.299,345 $1.122,600 Additional Information: During 2020, land was sold for a loss of $3,700. There was no purchase of equipment throughout the year. The company did not pay off any amount of the notes a payable Behemoth Manufacturing Income Statement For the Year Ended June 30, 2020 Sales $2,449,000 Cost of Goods Sold $1,469,400 Gross Profit $979,600 Operating Expenses Depreciation Expense $8,400 Other Operating Expenses $710,200 Total Operating Expenses $718,600 Income from Operations $261,000 Other Income and Expenses Loss on Sale of Land $-3,700 Income before Income Tax $257,300 Income Tax $90,055 Net Income $167,245 Create the cash flow statement using the indirect method. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Behemoth Manufacturing Cash Flow Statement For the Year Ended June 30, 2020 Cash Flow from Operating Activities Net Income Adjustments to Reconcile Net Income to Cash Depreciation Loss on Sale of Land Change in Operating Assets and Liabilities Decrease in Accounts Receivable Increase in Merchandise Inventory Decrease in Accounts Payable Net Cash Provided (Used) by Operating Activities Cash Flow from Investing Activities Sale of Land Net Cash Provided (Used) by Investing Activities Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Proceeds from Notes Payable Payment of Cash Dividend Issue of Common Shares Net Cash Provided (Used) by Financing Activities Net Increase (Decrease) in Cash Cash at the Beginning of the Year Cash at the End of the Year
