View Policies Current Attempt in Progress Shamrock Corporation has contracted with you to prepare a statement of cash flows. The controller has provided the following information December 31 2020 2019 Cash $38.500 $12.900 Accounts receivable 12,300 10.100 Inventory 12.100 10.000 Equity investments -0- 2,900 Buildings -0- 29.700 Equipment 40,300 19.900 Copyrights 4,900 5,300 Totals $108,100 $90.800 Allowance for doubtful accounts $3,000 $4,600 Accumulated depreciation equipment 2.100 4,500 Accumulated depreciation-buildings -0- 6.000 Accounts payable 4.900 4.000 Dividends payable -0- 5.000 Notes payable, short-term (nontrade) 3.100 4.000 Long-term notes payable 36.000 25,000 Common stock 38.000 33.000 Retained earnings 21,000 4.700 $108 100 $90.800 Common stock 38.000 B8.000 Retained earnings 21.000 4700 $108.100 $90.800 Additional data related to 2020 are as follows: 1. Equipment that had cost $11,100 and was 30% depreciated at time of disposal was sold for $2.500. 2. 55.000 of the long-term note payable was paid by issuing common stock 3. Cash dividends paid were $5.000 4. On January 1. 2020, the building was completely destroyed by a flood. Insurance proceeds on the building were $32,700 (net of $4.000 taxes). 5. Equity investments (ownership is less than 20% of total shares) were sold at $1,600 above their cost. No unrealized gains or losses were recorded in 2020, 6. Cash and a long-term note for $16,000 were given for the acquisition of equipment 7. Interest of $2.000 and income taxes of $5,000 were paid in cash. (a) Use the indirect method to analyze the above information and prepare a statement of cash flows For Shamrock. (Show amounts that decrease cash flow with either a-signed. 15,000 or in parenthesis ea. (15.000) SHAMROCK CORPORATION Statement of Cash Flows SHAMROCK CORPORATION Statement of Cash Flows $ Adjustments to reconcile net income to > $ > > $ Supplemental disclosures of cash flow information: $ 5