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The following are Ayayai Corp.'s comparative balance sheet accounts at December 31,2020 and 2019 , with a column showing the increase (decrease) from 2019 to
The following are Ayayai Corp.'s comparative balance sheet accounts at December 31,2020 and 2019 , with a column showing the increase (decrease) from 2019 to 2020. Additional information: 1. On December 31,2019 , Ayayai acquired 25% of Myers Co.'s common stock for $275,100. On that date, the carrying value of Myers's assets and liabilities, which approximated their fair values, was $1,100,400. Myers reported income of $134,800 for the year ended December 31, 2020. No dividend was paid on Myers's common stock during the year. 2. During 2020 , Ayayai loaned $288,300 to TLC Co., an unrelated company. TLC made the first semiannual principal repayment of $37,000, plus interest at 10%, on December 31,2020 . 3. On January 2, 2020, Ayayai sold equipment costing $59,500, with a carrying amount of $38,000, for $40,000 cash. 3. On January 2,2020 , Ayayai sold equipment costing $59,500, with a carrying amount of $38,000, for $40,000 cash. 4. On December 31, 2020, Ayayai entered into a capital lease for an office building. The present value of the annual rental payments is $387,800, which equals the fair value of the building. Ayayai made the first rental payment of $60,600 when due on January 2, 2021. 5. Net income for 2020 was $363,600. 6. Ayayai declared and paid the following cash dividends for 2020 and 2019. Prepare a statement of cash flows for Ayayai Corp. for the year ended December 31, 2020, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000). The following are Ayayai Corp.'s comparative balance sheet accounts at December 31,2020 and 2019 , with a column showing the increase (decrease) from 2019 to 2020. Additional information: 1. On December 31,2019 , Ayayai acquired 25% of Myers Co.'s common stock for $275,100. On that date, the carrying value of Myers's assets and liabilities, which approximated their fair values, was $1,100,400. Myers reported income of $134,800 for the year ended December 31, 2020. No dividend was paid on Myers's common stock during the year. 2. During 2020 , Ayayai loaned $288,300 to TLC Co., an unrelated company. TLC made the first semiannual principal repayment of $37,000, plus interest at 10%, on December 31,2020 . 3. On January 2, 2020, Ayayai sold equipment costing $59,500, with a carrying amount of $38,000, for $40,000 cash. 3. On January 2,2020 , Ayayai sold equipment costing $59,500, with a carrying amount of $38,000, for $40,000 cash. 4. On December 31, 2020, Ayayai entered into a capital lease for an office building. The present value of the annual rental payments is $387,800, which equals the fair value of the building. Ayayai made the first rental payment of $60,600 when due on January 2, 2021. 5. Net income for 2020 was $363,600. 6. Ayayai declared and paid the following cash dividends for 2020 and 2019. Prepare a statement of cash flows for Ayayai Corp. for the year ended December 31, 2020, using the indirect method. (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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