ACC113

A Moving to another question will save this response. Question 1 (7 Grades) The following comparative balance sheets 2019 & 2020 and additional information for "National Company" are given: Assets Dec. 31, Dec. 31, 2020 2019 Cash $156,000 $26,000 Accounts Receivable 52,000 48,000 Inventory and supplies 30,000 58,000 Investments 0 36,000 Machines 114,000 104,000 Accumulated depreciation-Machines (28,000) (20,000) Total Assets $324,000 $252,000 Liabilities & Stockholders' Equity Note payable Bonds payable (long-term) Common Stock Retained Earnings Total Liabilities & Stockholders' Equity $ 74,000 74,000 80,000 96,000 $324,000 $ 54,000 94,000 44,000 60,000 $252,000 Income Statement & Additional information: 1. Net income for the current year ending December 31, 2020 is $58,000. 2. Sold investments for cash, cost $36,000 and resulting in $6,000 gain. 3. The only changes affecting retained earnings are net income and cash dividends paid. 4. All the following transactions are in cash: Purchased new machines, repay bonds payable, and issuance common stock Required: Prepare the full statement of cash flows using indirect method for the year ended December 31, 2020. (PLEASE PROVIDE EACH AMOUNT / ITEM IN A SEPARATE LINE) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)