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The comparative balance sheets of Culver Inc. at the beginning and the end of the year 2020 are as follows. CULVER INC. BALANCE SHEETS Dec.
The comparative balance sheets of Culver Inc. at the beginning and the end of the year 2020 are as follows. CULVER INC. BALANCE SHEETS Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash $ 47,450 $ 15,450 $32,000 Inc. Accounts receivable 94,830 89,380 5.450 Inc. Equipment 42,830 23.380 19,450 Inc. Less: Accumulated Depreciation-Equipment 20,830 11,000 9.830 Inc. Total $ 164,280 $ 117,210 Liabilities and Stockholders' Equity. Accounts payable $ 23,830 $ 16,380 7.450 Inc. Common stock 102,450 81,380 21,070 Inc. Retained earnings 38,000 19,450 18,550 Inc. Total $ 164,280 $ 117,210 Net income of $ 47,830 was reported, and dividends of $ 29,280 were paid in 2020. New equipment was purchased and n Net income of $ 47,830 was reported, and dividends of $ 29,280 were paid in 2020. New equipment was purchased and none was sold. 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).) CULVER INC. Statement of Cash Flows $ Adjustments to reconcile net income to $ Adjustments to reconcile net income to V $ V
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