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Supplemental Homework #13 Juarez Company Comparative Balance Sheet December 31 Assets 2020 2021 Change $191,000 Increase/Decrease $159,000 $ 12,000 15,000 130,000 160,000 Cash 32,000 Increase Accounts receivable 3,000 Decrease Inventory 30,000 Decrease Prepaid expenses 2,000 Decrease Land 100,000 Increase Equipment, net 144,000 Increase Total 6,000 8,000 180,000 80,000 144.000 -0- $663,000 $422,000 Liabilities and Stockholders' Equity Accounts payable $ 52,000 $ 60,000 8,000 Decrease Accrued expenses payable 15,000 20,000 5,000 Decrease Income taxes payable 12,000 12,000 Increase Bonds payable 90,000 90,000 Increase Common stock 400,000 300,000 100,000 Increase Retained earnings 94,000 42.000 52,000 Increase Total $663,000 $422,000 Juarez Company Income Statement For the Year ended December 31, 2021 Revenues from sales $975,000 Cost of goods sold $660,000 Operating expenses (excluding depreciation) 176,000 Depreciation expense 18,000 Loss on sale of store equipment 1,000 855,000 Income before income taxes 120,000 Income tax expense 36,000 Net income $ 84,000 (Continued) Additional information: (a) In 2021, the company declared and paid a $32,000 cash dividend. (b) Bonds were issued at face value for $90,000 in cash. (c) Equipment costing $180,000 was purchased for cash. (d) Equipment costing $20,000 was sold for cash when the book value of the equipment was $18,000. (e) Common stock of $100,000 was issued to acquire land. Prepare a Statement of Cash Flows. 202 203 Supplemental #13 204 Juarez Company Statement of Cash Flows 205 206 207 208 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile: 209 210 211 212 213 214 215 216 217 218 Net cash from Operating Activities a 219 220 Cash Flows from Investing Activities: 221 222 223 Net cash flows from Investing Activities b. 224 225 Cash Flows from Financing Activities: 226 227 228 Net cash flows from Financing Activities c. 229 230 Totals (a. b. and c.) 231 Beginning Cash Balance 232 Ending Cash Balance 233 234 235 Non Cash Investing and Financing Activities: 236 237 238 239