The Income statement and balance sheet (partial) Bravossi Travel Products, , follow Far & Away Travel Products INCOME STATEMENT Year Ended December 31 2020 Revenues: Sales $239.000 Dividend revenue 8.500 $247,500 Expenses : Cost of goods sold 95.000 Salary expense 63,000 Depreciation expense25,000 Advertising expense

The income statement and balance sheet (partial) of Bravossi Travel Products, Inc., follow: Far & Away Travel Products INCOME STATEMENT Year Ended December 31, 2020 Revenues: Sales Revenue $239,000 Dividend revenue 8.500 $247,500 Expenses: Cost of goods sold $95,000 Salary expense 63,000 Depreciation expense 25,000 Advertising expense 3,000 Expenses: Cost of goods sold $95.000 Salary expense 63,000 Depreciation expense 25,000 Advertising expense 3,000 Interest expense 2,500 Income tax expense 6.000 $194,500 Net income $53,000 BALANCE SHEET December 31, December 31, 2020 2019 Current Assets Cash 170,000 41,000 Accounts Receivable 45,000 59,000 Inventory 30,000 90,000 BALANCE SHEET December 31, December 31, 2019 2020 Current Assets Cash 170,000 41,000 Accounts Receivable 45,000 59,000 Inventory 30,000 90,000 Prepaid Expenses 9,600 8,600 Current Liabilities Accounts Payable 35,000 20,000 Accrued Liabilities 90,000 99,000 Net cach nrovided liced by Operatine activities is: Net cash provided (used) by Operating activities is: ($14,000) $157,000 $145,000 O $132,000