Data for Pat Metheny Company are presented in E23.11.

Instructions

Prepare a statement of cash flows using the direct method. (Do not prepare a reconciliation schedule.)

Transcribed Image Text:

Pat Metheny Company Comparative Balance Sheet As of December 31, 2020 and 2019 2020 2019 Cash $1,800 $1,150 Receivables 1,750 1,300 Inventory 1,600 1,900 Plant assets 1,900 1,700 Accumulated depreciation Long-term investments (held-to-maturity) (1,200) (1,170) 1,300 1,420 $7,150 $6,300 $ 900 Accounts payable Accrued liabilities $1,200 200 250 Bonds payable 1,400 1,550 Common stock 1,900 1,700 Retained earnings 2,450 1,900 $7,150 $6,300