the other two are the formats to be used to answer the questions thank you

Boca Inc. Balance Sheets December 31 Assets Cash Accounts Receivable Inventory Prepaid Expenses Long-term Investments Plant Assets 2020 2019 40,800 48,400 28,400 26,000 87,800 38,000 112,500 102,850 138,000 109,000 367,000 242,500 Accumulated depreciation Total (50,000) (52,000) 724,500 514,750 Liabilities and Stockholders' Equity Accounts Payable Accrued Expenses Payable Dividends Payable Bonds Payable Common Stock Retained Earnings Total 13,500 21,000 72,000 67,300 3,000 170,000 146,000 262,000 175,000 204,000 105,450 724,500 514,750 Additional Information: 1. Old plant assets having an original cost of $57,500 and accumulated depreciation of $48,500 were sold for $7,500 cash. 2. A new plant asset was purchase 3. New bonds were issued at par for $36,000. 4. Net income was $154,480 5. A $1,000 prior period adjustment was recorded in 2020 correcting an understatement of depreciation in 2015. The 2019 balance sheet is appropriately restated. 6. The increase in Long-term Investments was due to a purchase of investments. d directly in exchange for common stock valued at $42,000. Required 1. Prepare 1,339, 1,342, 1,345). Do not submit supporting computations. a 2020 statement of cash flows using the indirect method. Use the textbook format (pages that involves a cash outflow Statement of Cash Flows-2017. Combining the foregoing items, we get a statement o cash flows for 2017 for Tax Consultants Inc., using the indirect method to compute ne cash flow from operating activities. TAX CONSULTANTS INC. STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2017 Cash flows from operating activities Net income Adjustments to reconcile net income to $134,000 net cash provided by operating activities: Depreciation expense $ 21,000 10,000 (6,000) 35,000 Decrease in accounts receivable Increase in prepaid expenses Increase in accounts payable Net cash provided by operating activities 60,000 194,000 Cash flows from investing activities Purchase of land Purchase of building Purchase of equipment Net cash used by investing activities (70,000) (200,000) (68,000) (338,000) Cash flows from financing activities 150,000 (18,000) Issuance of bonds Payment of cash dividends Net cash provided by financing activities 132,000 (12,000) 49,000 Net decrease in cash Cash, January 1, 2017 Cash, December 31, 2017 $ 37,000 Illustration-2018 Up Urations and the financing activity of paying cash dividends of $55,000. t of Cash Flows-2018. Tax Consultants Inc. combines the foregoing items to the statement of cash flows shown in Illustration 23-16. TAX CONSULTANTS INC. STATEMENT OF CASH FLOWs FOR THE YEAR ENDED DECEMBER 31, 2018 Cash flows from operating activities Net income Adjustments to reconcile net income to $125,000 net cash provided by operating activities: Depreciation expense $ 33,000 2,000 (42,000) (54,000) 2,000 (7,000) Loss on sale of equipment Increase in accounts receivable Increas in inventory Decrease in prepaid expenses Decrease in accounts payable Net cash provided by operating activities (66,000) 59,000 Cash flows from investing activities Sale of land Sale of equipment Purchase of equipment Net cash used by investing activities 25,000 34,000 (166,000) (107,000) Cash flows from financing activities Redemption of bonds Sale of common stock Payment of dividends Net cash provided by financing activities (40,000) 160,000 (55,000) Net increase in cash Cash, January 1, 2018 65,000 17,000 37,000 S 54,000 Cash, December 31, 2018