Question: Listed below are the comparative balance sheets for the current year (20X2) and for the prior year (20x1) of Johnson Corporation. 12/31/20x2 12/31/20X1 Cash Accounts

 Listed below are the comparative balance sheets for the current year

Listed below are the comparative balance sheets for the current year (20X2) and for the prior year (20x1) of Johnson Corporation. 12/31/20x2 12/31/20X1 Cash Accounts receivable Inventory Prepaid expenses Investments Plant and equipment Accumulated depreciation Total Assets $ 59,000 45,000 29,000 5,000 200,000 535,000 (297,000) $ 576,000 27,000 41,000 10,000 230,000 520,000 (270,000) $ 594,000 Accounts payable Salaries payable Taxes payable Bonds payable Common stock Retained earnings Total Liabilities and Equity $ 19,000 37,000 27,000 10,000 130,000 353,000 $ 576,000 $ 33,000 20,000 30,000 130,000 100,000 281,000 $ 594,000 Additional data for the current year are as follows: Net Income, $98,000 Depreciation, $27,000 Cash dividends declared and paid, $26,000 Investments costing $30,000 were sold for $70,000. Required: Using the indirect method, calculate the cash flows from operating activities When entering the answers in Blackboard, omit $ signs, and use the minus sign for negative amounts

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