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The following comparative balance sheets 2019 & 2020 and additional information for National Company are given: Assets Dec. 31, 2020 Dec. 31, 2019 Cash $152,000
The following comparative balance sheets 2019 & 2020 and additional information for "National Company" are given: Assets Dec. 31, 2020 Dec. 31, 2019 Cash $152,000 $44,000 Accounts Receivable 48,000 42,000 Inventory and supplies 28,000 38,000 Investments 0 36,000 Machines 114,000 104,000 Accumulated depreciation- (28,000) (20,000) Machines Total Assets $314,000 $244,000 Liabilities & Stockholders' Equity $74,000 $54,000 Note payable Bonds payable (long-term) 64,000 86,000 Common Stock 80,000 44,000 Retained Earnings 96,000 60,000 Total Liabilities & Stockholders' $314,000 $244,000 Equity Common Stock 80,000 44,000 Retained Earnings 96,000 60.000 Total Liabilities & Stockholders $314,000 $244,000 Equity Income Statement & Additional information: 1. Net income for the current year ending December 31, 2020 is $58,000. 2. Sold investments for cash, cost $36,000 and resulting in $6,000 gain. 3. The only changes affecting retained earnings are net income and cash dividends paid. 4. All the following transactions are in cash: Purchased new machines; repay bonds payable; and issuance common stock. Required: Prepare the full statement of cash flows using indirect method for the year ended December 31, 2020. (PLEASE PROVIDE EACH AMOUNT/ITEM IN A SEPARATE LINE) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS 32 Paragraph Arial v 10pt V v I. - r
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