Exercise 23-21

Below is the comparative balance sheet for Novak Corporation.

		Dec. 31, 2020			Dec. 31, 2019
Cash		$16,700			$21,000
Short-term investments		24,900			19,100
Accounts receivable		42,500			45,000
Allowance for doubtful accounts		(1,800	)		(2,100	)
Prepaid expenses		4,300			2,500
Inventory		81,800			65,500
Land		50,400			50,400
Buildings		124,200			73,600
Accumulated depreciationbuildings		(29,900	)		(22,900	)
Equipment		52,700			45,700
Accumulated depreciationequipment		(18,900	)		(15,600	)
Delivery equipment		38,600			38,600
Accumulated depreciationdelivery equipment		(21,900	)		(20,700	)
Patents		15,000			0
		$378,600			$300,100
Accounts payable		$25,900			$15,900
Short-term notes payable (trade)		4,100			5,900
Accrued payables		3,000			4,700
Mortgage payable		73,200			52,800
Bonds payable		50,100			63,000
Common stock		141,100			101,600
Paid-in capital in excess of par		10,100			4,000
Retained earnings		71,100			52,200
		$378,600			$300,100

Dividends in the amount of $15,100 were declared and paid in 2020. From this information, prepare a worksheet for a statement of cash flows. Make reasonable assumptions as appropriate. The short-term investments are considered available-for-sale and no unrealized gains or losses have occurred on these securities.