Question: need help on preparing a cashflow statement practice The following are the financial statements of Blossom Company. Blossom Company Comparative Balance Sheets December 31 Assets




The following are the financial statements of Blossom Company. Blossom Company Comparative Balance Sheets December 31 Assets 2020 Cash $36,900 Accounts receivable 32,700 Inventory 29,100 Equipment 59,600 Accumulated depreciation-equipment (29,700) Total $128,600 e 2019 $20,000 - 18,300 20,000 78,000 (23,000) $113,300 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,400 7,200 26,200 17,200 49,600 $128,600 $16,700 8,200 32,700 13,900 41,800 $113,300 Tch o i e . E % & * Blossom Company Income Statement For the Year Ended December 31, 2020 Sales revenue $241,500 Cost of goods sold 176,500 Gross profit 65,000 Operating expenses 23,400 Income from operations 41,600 Interest expense 3.400 Income before income taxes 38,200 Income tax expense 7.000 Net income $31.200 Additional data: 1. Dividends declared and paid were $23.400. 2. During the year, equipment was sold for $9.800 cash. This equipment cost $18.400 originally and had a book value $9.800 at the time of sale. 3. All depreciation expense, $15,300, is in the operating expenses. 4. All sales and purchases are on account. o RE & % 5 6 3 4 P O U Y T ER (a) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow withe -15,000 or in parenthesis eg. (15,000).) Blossom Company Statement of Cash Flows Fer the Month Ended December 31, 2020 Cash at Beginning of Period Net Income $ Adjustments to reconcile net income to $ ( o RI e IO % 8 O CO 4. 5 3 Adjustments to reconcile net income to Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash o BE 3 96 5 6 7 8 o RT U /22387/assignments/576037?module_item_id=1202142 $ Assistances e Textbook and Media O BI e E 5 6 8 R T U F G H 1 KIL
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