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The following are the financial statements of Pina Colada Corp. Liabilities and Stockholders' Equity Accounts paryable Income thxes payable Bonds payable begin{tabular}{rr} 26,700 & 32,400
The following are the financial statements of Pina Colada Corp. Liabilities and Stockholders' Equity Accounts paryable Income thxes payable Bonds payable \begin{tabular}{rr} 26,700 & 32,400 \\ 17,500 & 13,800 \\ 49,500 & 42,000 \\ \hline$129,000 & $113,200 \\ \hline \end{tabular} Pina Colada Corp. Income statement For the Year Ended December 31, 2020 5sles reverue $241,300 Cost of goods sold Grossproft 64,900176,400 Operating expenses: 24,500 Income from operations: 40,400 Interest emense Income before income taxes 36,600 Additional datac 1. Dividends declared and paid were $20,900 2. During the year, equipment was sold for $9,800 cash. This equipment cost 518,400 originally and had a book value of $9,800 at the time of sale. 3. Ali depreciation expense, $15,000, is in the operating expenses. 4. AH sales and purchases are on account. Prepare astatement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.s. (15,000)
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