P5-2. Preparing the Statement of Cash Flows (indirect Method) LO5-1, 5-2, 5-3,5-5, 5-7 Selected financlal information for Frank Corporason is preserted below. Selectod 2020 transactons are as followz: a. Purchased huestment securities for $6900cash. b. Blrawed 518,600 on a twoyeac, 8 percerk interest bearing nole. c Ouring 2020 , sold machinery for its carrying amount, received 513700 in cash. d. Purchased mocthinery for $53,600; pald $10,800 in cash and signed a fouryear note payable to the dealer for $40,800. c. Declared and poid a cash dlvidend of $11,800 an Decomber 31,2020. Selected account baiances at December 31,2019 and 2020 are as foliows: Che fourth of the sales and one third of the purchases were mode sn credt. Required: 1. Prepare a stadement of cash fiows for the year ended Decenbes 3 . 2020 by uang the intirict method. Nepative answers should. be indicated by a minus align] P5-3 Preparing a Statement of Cash Flows (Indirect Method) LO5-2, 5-7 The comparative statements of financial position of Mikos inc, as at December 31, 2020 and 2021 and iss statement of earnings for the year ended December 31, 2021 are presented below: Additionol information is as follows: a. Land was sole for cash at ths carrying amount. A The short tetm investments well makure in Frbriary 2022. c. Cash dividends were deciared and paid in 2021. d New equipment with a cost of 5166.200 was purchased for cash, and oid equinent was soid at es canying ambunt. c Longterm notes of 511,000 wele pad in conh, ard notes of 331000 were conveted ta thares. Required: L. Prepsee a statement of cash flaws for Maos inc, tar the year ended December 31,2021 by using the indrect thechod. iNesention answers should be insicaled by a minus sign.! Addibonal information is as follows. a. Land was sold for cash at its cartytng amount. b. The shorterm investments will mature in februsry 2022. c. Cash dividends were decisred and poid in 2021 . d. New ecuipment with a cost of $165.200 was purchased for cash, and old equipment was 101d at is carrying amount. c. Long term notes of 51,000 were psid in cash, and notes of $31000 were converted to shares. Pequired: 1. Propare a statement of eash flows for Milos inc. for the year ended December 31, 2021 by using the indirect methed, PNegative answers should be indicated by a minsus sign. 2. This pert of the euest on is not part of yous Comsert assigpient 3. This part of the auestien is not part of you Comeet assigrmint. P5-2. Preparing the Statement of Cash Flows (indirect Method) LO5-1, 5-2, 5-3,5-5, 5-7 Selected financlal information for Frank Corporason is preserted below. Selectod 2020 transactons are as followz: a. Purchased huestment securities for $6900cash. b. Blrawed 518,600 on a twoyeac, 8 percerk interest bearing nole. c Ouring 2020 , sold machinery for its carrying amount, received 513700 in cash. d. Purchased mocthinery for $53,600; pald $10,800 in cash and signed a fouryear note payable to the dealer for $40,800. c. Declared and poid a cash dlvidend of $11,800 an Decomber 31,2020. Selected account baiances at December 31,2019 and 2020 are as foliows: Che fourth of the sales and one third of the purchases were mode sn credt. Required: 1. Prepare a stadement of cash fiows for the year ended Decenbes 3 . 2020 by uang the intirict method. Nepative answers should. be indicated by a minus align] P5-3 Preparing a Statement of Cash Flows (Indirect Method) LO5-2, 5-7 The comparative statements of financial position of Mikos inc, as at December 31, 2020 and 2021 and iss statement of earnings for the year ended December 31, 2021 are presented below: Additionol information is as follows: a. Land was sole for cash at ths carrying amount. A The short tetm investments well makure in Frbriary 2022. c. Cash dividends were deciared and paid in 2021. d New equipment with a cost of 5166.200 was purchased for cash, and oid equinent was soid at es canying ambunt. c Longterm notes of 511,000 wele pad in conh, ard notes of 331000 were conveted ta thares. Required: L. Prepsee a statement of cash flaws for Maos inc, tar the year ended December 31,2021 by using the indrect thechod. iNesention answers should be insicaled by a minus sign.! Addibonal information is as follows. a. Land was sold for cash at its cartytng amount. b. The shorterm investments will mature in februsry 2022. c. Cash dividends were decisred and poid in 2021 . d. New ecuipment with a cost of $165.200 was purchased for cash, and old equipment was 101d at is carrying amount. c. Long term notes of 51,000 were psid in cash, and notes of $31000 were converted to shares. Pequired: 1. Propare a statement of eash flows for Milos inc. for the year ended December 31, 2021 by using the indirect methed, PNegative answers should be indicated by a minsus sign. 2. This pert of the euest on is not part of yous Comsert assigpient 3. This part of the auestien is not part of you Comeet assigrmint