Question
The comparative balance sheets of Ayayai Corporation at the beginning and end of the year 2020 appear below. AYAYAI CORPORATION BALANCE SHEETS Dec. 31, 2020
The comparative balance sheets of Ayayai Corporation at the beginning and end of the year 2020 appear below. AYAYAI CORPORATION BALANCE SHEETS Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash $21,380 $14,480 $6,900 Inc. Accounts receivable 107,380 89,480 17,900 Inc. Equipment 40,380 23,480 16,900 Inc. Less: Accumulated Depreciation-Equipment (17,000 ) (11,000 ) 6,000 Inc. Total $152,140 $116,440 Liabilities and Stockholders Equity Accounts payable $21,380 $16,480 4,900 Inc. Common stock 101,380 81,480 19,900 Inc. Retained earnings 29,380 18,480 10,900 Inc. Total $152,140 $116,440 Net income of $45,380 was reported, and dividends of $34,480 were paid in 2020. New equipment was purchased and none was sold. (a) Partially correct answer iconYour answer is partially correct. Prepare a statement of cash flows for the year 2020. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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