Question: Current Attempt in Progress The following are Larkspur Corp!'s comparative balance sheet accounts at December 31, 2020 and 2019, with a column showing the increase






Current Attempt in Progress The following are Larkspur Corp's comparative balance sheet accounts at December 31,2020 and 2019, with a column showing the increase (decrease) from 2019 to 2020. Current Attempt in Progress The following are Larkspur Corp.'s comparative balance sheet accounts at December 31,2020 and 2019 , with a column showing the increase (decrease) from 2019 to 2020. Additional information: 1. On December 31,2019, Larkspur acquired 25\% of Myers Co.s common stock for $276,600. On that date, the carrying value of Myers's assets and liabilities, which approximated their fair values, was $1,106,400. Myers reported income of $122,000 for the year ended December 31. 2020. No dividend was paid on Myers's common stock during the year. 2. During 2020, Larkspur loaned $273,800 to TLC Co, an unrelated company. TLC made the first semiannual principal repayment of $21,600, plus interest at 10%, on December 31,2020 . 3. On Jaruary 2, 2020, Larkspur sold equipment costing $59,400, with a carrying arnount of $37,900, for $40,400cash. 4. On December 31,2020, Larkspur entered into a capital lease for an office building. The present value of the arnual rental 4. On December 31,2020, Larkspur entered into a capital lease for an office building. The present value of the annual rental payments is $373,600, which equals the fair value of the building. Larkspur made the first rental payment of $59,400 when due on January 2, 2021. 5. Net income for 2020 was $351,100. 6. Larkspur declared and paid the following cash dividends for 2020 and 2019. Prepare a statement of cash fows for Larkspur Corp. for the year ended December 31, 2020, using the indirect method, (Show amounts that decrease cash flow with either a - sign eg. 15,000 or in parenthesis es. (15,000)) Adjustments to reconcile net income to $
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