Practice Problem $-$ Cash flow statement

The following data refers to Skyline Company. Additional information: the company sold a

building for $$6,000$ and bought equipment for $$10,000.$ There was a land sale, but no patent

sale or purchase.

Income Statement

For the Year Ended December $31,2020$

Sales

Less: Expenses

Cost of Goods Sold

Depreciation Expense

Amortization Expense

Salaries Expense

Interest Expense

Gain on Sale of Building

Taxes Expense

Net Income

Balance Sheet

Cash

Accounts Receivable

Inventory

Buildings and Equipment, net

Land

Patents

Total Assets

Accounts Payable

Interest Payable

Mortgage Payable

Contributed Capital

Retained Earnings

Total Equities