Current Attempt in Progress A comparative balance sheet for Vaughn Corporation is presented below: Cash Accounts receivable (net) Prepaid insurance Land: Equipment Accumulated depreciation Total assets VAUGHN CORPORATION Comparative Balance Sheet Assets 2020 $42.900 73,450 28,450 20,300 72.300 (23,450) Accounts payable Bonds payable Common stock Retained earnings Total abilities and stoddiolders equity $213.950 Liabilities and Stockholders' Equity $14,450 29.300 146.900 23.300 $213.950 2019 $33,300 62,300 19,300 50,350 62.300 (15,300 $212,250 $8,300 21.300 117,300 65.350 1212.250 Additional information: 1. 2. 3. 4. 5. 6. Net loss for 2020 is $25,750. Cash dividends of $16,300 were declared and paid in 2020. Land was sold for cash at a loss of $6,300. This was the only land transaction during the year. Equipment with a cost of $19,600 and accumulated depreciation of $12,300 was sold for $7,300 cash. $24,300 of bonds were retired during the year at carrying (book) value. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $29,600. Prepare a statement of cash flows for the year ended 2020, using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000)) Adjustments to reconcile net income to VAUGHN CORPORATION Statement of Cash Flows