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Y Exercise 12-09 Here are comparative balance sheets for Kingbird, Inc.. Kingbird, Inc. Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Land
Y Exercise 12-09 Here are comparative balance sheets for Kingbird, Inc.. Kingbird, Inc. Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total Additional information: 1. Net income for 2020 was $103,100. 2020 2019 $ 73,200 $ 32,900 85,600 70,900 169,700 187,100 73,000 101,700 260,600 199,000 (65,600) (34,100) $596,500 $557,500 $ 46,800 150,900 203,600 216,500 175,500 193,900 131,600 $596,500 $557,500 $ 35,200 2. Cash dividends of $40,800 were declared and paid. 3. Bonds payable amounting to $52,700 were redeemed for cash $52,700. 4. Common stock was issued for $41,000 cash. 5. No equipment was sold during 2020, but land was sold at cost. Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that dec Kingbird, Inc. Statement of Cash Flows mere to search O T lyi
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