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The following is a condensed version of the comparative balance sheets for Zubin Mehta Corporation for the last two years at December 31. 2020 2019
The following is a condensed version of the comparative balance sheets for Zubin Mehta Corporation for the last two years at December 31. 2020 2019 Cash $ 177,000 $ 78,000 Accounts receivable 180,000 185,000 Investments 52,000 74,000 Equipment 298,000 240,000 Accumulated Depreciation Equipment ( 106,000) (89,000) Current liabilities 134,000 151,000 Common stock 160,000 160,000 Retained earnings 307,000 177,000 Additional information: Investments were sold at a loss of $ 10,000; no equipment was sold; cash dividends paid were $ 30,000; and net income was $ 160,000. Prepare a statement of cash flows for 2020 for Zubin Mehta Corporation. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis eg. (15,000).) ZUBIN MEHTA CORPORATION Statement of Cash Flows $ Adjustments to reconcile net income to $ A > >
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