Treasury Stocks, Cost Method Bush-Caine Company reported the following data on its December 31, 2020 balance sheet: Preferred stock, $50 par $50,000 Additional paid-in capital preferred stock $4,000 Common stock, $10 par $100,000 Additional paid-in capital on common stock $80,000 Retained earnings $95,000 The following transactions were reported by the company during 2021: 1. Reacquired 200 shares of its preferred stock at $57 per share. 2. Reacquired 500 shares of its common stock at $16 per share. 3. Sold 100 shares of preferred treasury stock at $58 per share. 4. Sold 200 shares of common treasury stock at $17 per share. 5. Sold 100 shares of common treasury stock at $9 per share. 6. Retired the shares of common stock remaining in the treasury. The company maintains separate treasury stock arcounts and related additional paid-in capital accounts for each class of stock Required 1. Prepare the journal entries required to record the treasury stock transactions using the cost method. Statement of Cash Flows The following is a list of items for the 2020 statement of cash flows for Eubank Company: $ Receipts from sale of equipment Increase in inventory Net Income Payment for purchase of building Depreciation expense Receipt from issuance of bonds increase in prepaid expenses Loss on sale of equipment Payment of dividends Decrease in accounts receivable Issuance of common stocks for land Decreae in accounts payable Beginning cash balance 2,700 3,900 13,500 29,000 8,700 8,000 800 2,200 5,200 1,700 6,900 1,500 10,200 Required Prepare the statement of cash flows for the year ended December 31, 2020 Statement of Cash Flows The following is a list of items for the 2020 statement of cash flows for Eubank Company: Receipts from sale of equipment Increase in inventory Net Income Payment for purchase of building Depreciation expense Receipt from issuance of bonds increase in prepaid expenses Loss on sale of equipment Payment of dividends Decrease in accounts receivable Issuance of common stocks for land Decreae in accounts payable Beginning cash balance $ 2,700 3,900 13,500 29,000 8,700 8,000 800 2,200 5,200 1,700 6,900 1,500 10,200 Required Prepare the statement of cash flows for the year ended December 31, 2020