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The following is a condensed version of the comparative balance sheets for Indigo Corporation for the last two years at December 31. Additional information: Investments
The following is a condensed version of the comparative balance sheets for Indigo Corporation for the last two years at December 31. Additional information: Investments were sold at a loss of $14,500; no equipment was sold; cash dividends paid were $43,500; and net income was $232,000. (a) Prepare a statement of cash flows for 2020 for Indigo Corporation. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000). INDIGO CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income $ Adjustments to reconcile net income to Net Cash Used by Operating Activities Depreciation Expense Loss on Sale of Investments Decrease in Current Liabilities Decrease in Accounts Receivable $ $
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