HOMEWORK - FALL 2020 - ACT 3391 In completing this traditional homework item, follow the same instructions identified (items A through F) for traditional homework item nos. 1 through 8. 11. (6 points) Diane's balance sheets as of December 31, 2018 and 2019 are presented below: 2018 2019 $190,000 125,000 50,000 Cash Accounts receivable Prepaid expenses Property, plant, and equipment - at cost Accumulated depreciation TOTAL ASSETS $246,000 63,000 27,000 450,000 698,000 (154.000) S880.000 (110,000) S205.000 Accrued expenses payable Uneared revenues Dividends payable Long-term debt Common stock Additional paid-in-capital Retained earnings TOTAL LIABILITIES & SE $120,000 45,000 0 200,000 50,000 250,000 40.000 S205.000 $100,000 10,000 15,000 150,000 60,000 380,000 165.000 S880,000 SELECTED OTHER INFORMATION: 1. During 2019, Diane reported net income of $180,000 2. During 2019, Diane both borrowed on a long-term basis and paid back some long-term debt. During 2019, Diane paid back $125,000 3. During 2019. Diane both bought and sold some property, plant, and equipment (PP&E). A machine Diane sold during 2019 originally cost her $65,000. Diane sold the PP&E for $40,000 and reported a gain on the sale of $5,000 4. During 2019, Diane issued additional common stock. 5. During 2019, Diane declared four quarterly dividends 2019 was the first year in which Diane declared dividends. 6. During 2019, Diane did NOT enter into any non-cash investing or financing activities. Prepare Diane's statement of cash flows (in good form) for the year ended December 31, 2019. Diane uses the indirect method. You can use illustration 5.23 in your textbook as an example of good form" in statement of cash flows preparation 9) re $5. DACI