Question: Here are comparative balance sheets for Migitsu Company. Prepare a statement of cash flows-indirect method. MIGITSU COMPANY Comparative Balance Sheets December 31 Assets 2020

Here are comparative balance sheets for Migitsu Company. Prepare a statement of cash flows-indirect method. MIGITSU COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash $73,000 $19,000 Accounts receivable 87,000 76,000 Inventories 169,000 192,000 Land 73.000 101,000 Equipment 258,000 202,000 Accumulated depreciation (67,000 ) (32,000) Total $593,000

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