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the following are the income Statement (Jan. 1, 2020 - Dec 31, 2020) and Balance Sheets (both Jan 1, 2020 and Dec. 31, 2020) for

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the following are the income Statement (Jan. 1, 2020 - Dec 31, 2020) and Balance Sheets (both Jan 1, 2020 and Dec. 31, 2020) for XYZ Corp. Use this information to answer all questions. ABC Corp. 2020 Income Statement Details (Jan 1-Dec 31) Sales $850,000 Cost of goods sold $275,000 Selling and Admin. Costs $90,000 Depreciation $60,000 EBIT Interest expense $425,000 $25,000 EBT $400,000 Tax rate=25% Dividends paid $200,000 Additions to retained earnings $100,000 XYZ Corp. Balance Sheet, Jan. 1, 2020 Cash Accounts receivable Inventory $25,000 $30,000 $25,000 Accounts Payable Notes payable $15,000 $10,000 Current assets $80,000 Current Liabilities $25,000 Net fixed assets $400,000 Long term debt Equity Total Liabilities and Equity $200,000 $255,000 $480,000 Total assets $480,000 XYZ Corp Balance Sheet, Dec 31, 2020 Cash Accounts Receivable Inventory $20,000 $35,000 $50,000 Accounts Payable Notes Payable $25,000 $20,000 Current assets S105,000 Current Liabilities $45,000 Net fixed assets $600,000 Long term debt Equity Total Liabilities and Equity $250,000 $410,000 $705,000 Total assets $705,000 1. Based on the statements from XYZ Corp., prepare a cash flow statement in the following format for the year 2020: (total 30 points) Cash flow from operations (10 points) Cash flow from investing (10 points) Cash flow from financing (10 points)

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