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Using the trial balance information below, construct a balance sheet, income statement, and calculate cash flow from operations using the indirect method for the year
Using the trial balance information below, construct a balance sheet, income statement, and calculate cash flow from operations using the indirect method for the year ended Dec 31, 2020.
Trial Balance Account Cash and equivalents Notes receivable Accounts receivable Allowance for bad debts Raw materials Work-in-process Finished goods Prepaid expenses Deferred income taxes Other current assets Land Buildings and improvements Machinery and equipment Accumulated depreciation Patents and trademarks Goodwill Other noncurrent assets Notes payable to banks Accounts payable Accrued advertising Accrued operating expenses Accrued compensation Other accrued expenses Income taxes payable Other current liabilities Long-term notes payable Bonds payable Capitalized lease obligations Deferred income taxes Other noncurrent liabilities Preferred stock, $10 par value Common stock, $0.01 par value Additional paid-in capital Retained earnings Treasury stock, at cost Sales Cost of goods sold Advertising expense Marketing expense Administrative expense General expense Research and development expense Other technical expense Other expense income) Interest expense Interest income Amortization of intangibles Provision for income taxes 2019 2020 15,901 16,226 8,519 8.113 155,774 162,265 (6,166) (6,490) 55,089 56,793 126,567 121.699 69,368 73,019 28,964 27,585 14,458 14,604 51,941 53,547 110,798 114,225 865,687 892,461 2,043,183 1,945,889 (317,065) (323,536) 381,648 397,550 778,875 811,328 113,586 113,586 (122,023) (129,812) (85,676) (89,246) (32,453) (32,453) (34,627) (35,698) (11,244) (11,358) (34,424) (33.100) (13,728) (14,604) (4,576) (4,868) (682,510) (726,074) (159,020) (162,265) (52,908) (50,873) (61,635) (64,203) (25,557) (24,340) (2,956) (2,815) (3,277) (3,245) (1,475,677) (1,475,677) (1,400,431) (1,458,782) 12,034 12,667 (4,718,499) (4,717,502) 2,832,900 2,950,937 347,281 354,368 225.770 240,181 268.563 274,044 42,133 44,350 346,999 340,195 43,009 44,339 15,218 16,189 82,628 79,450 (3,151) (3,183) 56,414 57,565 154,296 146,949 BALANCE Trial Balance Account Cash and equivalents Notes receivable Accounts receivable Allowance for bad debts Raw materials Work-in-process Finished goods Prepaid expenses Deferred income taxes Other current assets Land Buildings and improvements Machinery and equipment Accumulated depreciation Patents and trademarks Goodwill Other noncurrent assets Notes payable to banks Accounts payable Accrued advertising Accrued operating expenses Accrued compensation Other accrued expenses Income taxes payable Other current liabilities Long-term notes payable Bonds payable Capitalized lease obligations Deferred income taxes Other noncurrent liabilities Preferred stock, $10 par value Common stock, $0.01 par value Additional paid-in capital Retained earnings Treasury stock, at cost Sales Cost of goods sold Advertising expense Marketing expense Administrative expense General expense Research and development expense Other technical expense Other expense income) Interest expense Interest income Amortization of intangibles Provision for income taxes 2019 2020 15,901 16,226 8,519 8.113 155,774 162,265 (6,166) (6,490) 55,089 56,793 126,567 121.699 69,368 73,019 28,964 27,585 14,458 14,604 51,941 53,547 110,798 114,225 865,687 892,461 2,043,183 1,945,889 (317,065) (323,536) 381,648 397,550 778,875 811,328 113,586 113,586 (122,023) (129,812) (85,676) (89,246) (32,453) (32,453) (34,627) (35,698) (11,244) (11,358) (34,424) (33.100) (13,728) (14,604) (4,576) (4,868) (682,510) (726,074) (159,020) (162,265) (52,908) (50,873) (61,635) (64,203) (25,557) (24,340) (2,956) (2,815) (3,277) (3,245) (1,475,677) (1,475,677) (1,400,431) (1,458,782) 12,034 12,667 (4,718,499) (4,717,502) 2,832,900 2,950,937 347,281 354,368 225.770 240,181 268.563 274,044 42,133 44,350 346,999 340,195 43,009 44,339 15,218 16,189 82,628 79,450 (3,151) (3,183) 56,414 57,565 154,296 146,949 BALANCE
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