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urgent. !! Vaughn Manufacturing Balance Sheet January 1, 2021 Assets Equities Cash $957000 Accounts payable $459000 Accounts receivable 868000 Buildings and equipment 3640000 Accumulated depreciation-
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Vaughn Manufacturing Balance Sheet January 1, 2021 Assets Equities Cash $957000 Accounts payable $459000 Accounts receivable 868000 Buildings and equipment 3640000 Accumulated depreciation- buildings and equipment (1300000) Commonstock 2780000 Patents Vaughn Manufacturing Statement of Cash Flows For the Year Ended December 31, 2021 Increase (Decrease) in Cash Net income $1140000 Adjustments to reconcile net income to net cash provided by operating activities: Increase in accounts receivable Increase in accounts payable Depreciation-buildings and equipment Gain on sale of equipment Amortization of patents Net cash provided by operating activities $(382000) 196000 355000 (146000) 55000 121800078000 Cash flows from investing activities Sale of equipment Purchase of land Purchase of buildings and equipment Net cash used by investing activities 291000 (604000) (1151000) (1464000) Cash flows from financing activities Payment of cash dividend (362000) Cash flows from financing activities Payment of cash dividend Sale of common stock (362000) 953000 Net cash provided by financing activities Net increase in cash 345000591000 Cash, January 1, 2021 Cash, December 31, 2021 957000$1302000 Total assets on the balance sheet at December 31,2021 are $6646000. Accumulated depreciation on the equipment sold was $337000. The balance in the Retained Earnings account at December 31, 2021 was $2856000. $2494000. $2132000. $992000 Step by Step Solution
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