OT 5 -/1 View Policies Current Attempt in Progress Rojas Corporation's comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash $14,800 $10,300 Accounts receivable 21,500 23,500 Land 20,300 26,400 70,000 70,000 Buildings Accumulated depreciation-buildings (10,400) (14,600) $112,000 Total $119,800 Accounts payable $12,200 $28,600 74,000 Common stock 74.400 Retained earnings 25,400 17,200 Total $112,000 $119,800 Question 4 of 5 -/1 Additional information: 1. Net income was $22.900. Dividends declared and paid were $14.700. 2. No noncash investing and financing activities occurred during 2020. 3. The land was sold for cash of $4,500. (a) Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. - 15,000, or in parenthesis e.g. (15,000). ROJAS CORPORATION Statement of Cash Flows Cash Flows from Operating Activities Net Income 22.900 Adjustments to reconcile net income to Net Cash Provided by Operating Activities -/15 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ Loss on Disposal of Plant Assets Decrease in Accounts Receivable + Decrease in Accounts Payable Net Cash Provided by Operating Activities : Cash Flows from Investing Activities Sale of Land Net Cash Provided by Investing Activities : Cash Flows from Financing Activities Adaptive Practice C C Question 4 of 5 -/1 Sale of Land Net Cash Provided by Investing Activities : Cash Flows from Financing Activities Payment of Dividends $ Issuance of Common Stock Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit