Question: please show all working 2. Selected financial statement information and additional data for Sunlight Co. is presented below. Prepare a statement of cash flows for
2. Selected financial statement information and additional data for Sunlight Co. is presented below. Prepare a statement of cash flows for the year ending December 31, 2020. (18 Points) December 31 2019 2020 Cash. $42,000 $60,000 Accounts receivable (net) 84,000 144.200 Inventory 168,000 206,600 Land 58,800 26,000 Equipment 504.000 789,600 TOTAL $856.800 S1.226.400 Accumulated depreciation $84,000 $110,600 Accounts payable 50,400 91,000 Notes payable -short-term 67,200 29,400 Notes payable - long-term 168,000 302,400 Common stock 420,000 487,200 Retained earnings 67,200 205.800 TOTAL S856.800 51.226.400 Additional data for 2020 1. Net income was $230,200 2. Depreciation was $26,600. 3. Land was sold at its original cost 4. Dividends of S91,600 were paid 5. Equipment was purchased for $84,000 cash. 6. A long-term note for S201,600 was used to pay for an equipment purchase 7. Common stock was issued to pay a $67,200 long-term note payable
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