Cash. Accounts receivable (net). Inventory Land Equipment. Accumulated depreciation. TOTAL. Accounts payable. Notes payable - long-term....

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Cash. Accounts receivable (net). Inventory Land Equipment. Accumulated depreciation. TOTAL. Accounts payable. Notes payable - long-term. Common stock. Retained earnings TOTAL 2019 $42,000 25,400 105,700 45,000 103,000 (41,600) $279.500 $16,560 70,000 90,000 102,940 $279.500 December 31 2020 $60,000 32,200 87,920 85,600 (40,200) $225,520 $11,810 10,000 150,000 53,710 $225.520 Additional data for 2020: 1. The company reported a net loss of $45,730. 2. Land was sold for a profit of $30,700. 3. Dividends of $3,500 were declared and paid. 4. Equipment costing $17,400 with accumulated depreciation of $11,400 was sold for $5,000 cash. 5. The long-term note was paid down with funds from selling additional common stock. Instructions: Prepare a statement of cash flows for the year ending December 31, 2020. Be sure to prepare the statement with proper format and correct heading and date. Cash. Accounts receivable (net). Inventory Land Equipment. Accumulated depreciation. TOTAL. Accounts payable. Notes payable - long-term. Common stock. Retained earnings TOTAL 2019 $42,000 25,400 105,700 45,000 103,000 (41,600) $279.500 $16,560 70,000 90,000 102,940 $279.500 December 31 2020 $60,000 32,200 87,920 85,600 (40,200) $225,520 $11,810 10,000 150,000 53,710 $225.520 Additional data for 2020: 1. The company reported a net loss of $45,730. 2. Land was sold for a profit of $30,700. 3. Dividends of $3,500 were declared and paid. 4. Equipment costing $17,400 with accumulated depreciation of $11,400 was sold for $5,000 cash. 5. The long-term note was paid down with funds from selling additional common stock. Instructions: Prepare a statement of cash flows for the year ending December 31, 2020. Be sure to prepare the statement with proper format and correct heading and date.

Answer rating: 100% (QA)

Answer Statement of Cash Flows For the Year Ended December 312020 Cash flow from operating activitie... View the full answer