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The Sharjah Corporation reported the following balance sheet data for 2020 and 2019: 2020 2019 Cash $ 77,375 $ 22,955 Available-for-sale securities (not cash equivalents)

The Sharjah Corporation reported the following balance sheet data for 2020 and 2019:

2020 2019
Cash $ 77,375 $ 22,955
Available-for-sale securities
(not cash equivalents) 15,500 85,000
Accounts receivable 80,000 68,250
Inventory 165,000 145,000
Prepaid insurance 1,500 2,000
Land, buildings, and equipment 1,250,000 1,125,000
Accumulated depreciation (610,000) (572,000)
Total assets $ 979,375 $ 876,205
Accounts payable $ 76,340 $ 148,670
Salaries payable 20,000 24,500
Notes payable (current) 25,000 75,000
Bonds payable 200,000 0
Common stock 300,000 300,000
Retained earnings 358,035 328,035
Total liabilities and shareholders' equity $ 979,375 $ 876,205

Additional information for 2020:

  1. Sold available-for-sale securities costing $69,500 for $74,000.
  2. Equipment costing $20,000 with a book value of $5,000 was sold for $6,000.
  3. Issued 6% bonds payable at face value, $200,000.
  4. Purchased new equipment for $145,000 cash.
  5. Paid cash dividends of $20,000.
  6. Net income was $50,000.

4.The net cash provided (used) by operating activities during 2020

Operating activities

5.The net cash provided (used) by investing activities during 2020

Investing activities

6.The net cash provided by financing activities during 2020

7. Compute the free cash balance

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