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The comparative balance sheets of Sweet Inc. at the beginning and the end of the year 2020 are as follows. SWEET INC. BALANCE SHEETS
The comparative balance sheets of Sweet Inc. at the beginning and the end of the year 2020 are as follows. SWEET INC. BALANCE SHEETS Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash Accounts receivable $47,620 94,790 $ 15,620. 89,170 $32,000 Inc. 5,620 Inc. Equipment 42,790 23,170 19.620 Inc. Less: Accumulated Depreciation-Equipment 20,790 11.000 9,790 Inc. Total $164,410 $116,960 Liabilities and Stockholders' Equity Accounts payable $23,790 $16,170 7,620 Inc. Common stock 102,620 81,170 21,450 Inc. Retained earnings Total 38,000 $164,410 19,620 18,380 Inc. $116,960 Net income of $47,790 was reported, and dividends of $29,410 were paid in 2020. New equipment was purchased and none was sold. dance cash flow with either a sign e.g. -15,000
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