Directions:

Using the Comparative Balance Sheet below for the years ended December 31, 2020 and December 31, 2019 for BBB Inc, prepare a statement of cash flows under the indirect method for the year ended December 31, 2020.

***Assume net income was $88,700 and dividends were $20,000

BBB Incorporated Comparative Balance Sheet For the Years Ended December 31, 2020 & 2019 2020 2019 Assets Current Assets: Cash Accounts Receivable Inventory Total Current Assets $86,000 91,000 200,000 $377,000 $123,000 88,000 187,000 $398,000 Long Term Investments Long-Term Stock Investments 122,400 84,900 Property, Plant, & Equipment Land Building Vehicles Accumulated Depreciation Total PP&E 1,401,500 1,302,800 33,900 (186,200) 2,552,000 1,123,150 870,000 24,000 (114,200) 1,902,950 Total Assets $3,051,400 $2,385,850 Liabilities & Stockholders' Equity Liabilities Current Liabilities: Income Taxes Payable Accounts Payable Salaries Payable Total Current Liabilities $407,600 524,500 104,800 1,036,900 $260,000 331,850 156,700 748,550 Long-Term Liabilities Bonds Payable Total Liabilities 522,500 $1,559,400 500,000 $1,248,550 Stockholders' Equity: Common Stock Additional Paid-in Capital Retained Earnings Total Owners' Equity 475,000 686,000 331,000 1,492,000 375,000 500,000 262,300 1,137,300 Total Liabilities & Stockholders' Equity $3,051,400 $2,385,850