Question: Solve the following problems by providing what is asked for each one. Problem 3 The comparative balance sheets for Hamilton Inc. appear below. Dec 31,

 Solve the following problems by providing what is asked for each

Solve the following problems by providing what is asked for each one. Problem 3 The comparative balance sheets for Hamilton Inc. appear below. Dec 31, 2020 Dec 31, 20151 Assets Cash $29,000 $10,000 Trade receivables 23,000 14,000 Prepaid expenses 6,000 9,000 inventory 25,000 15,000 Long-term investments 0 23,000 Equipment 57,000 30,000 Accumulated depreciation equipment 18.2001 16.000 Total assets $122.000 $87.00 Liabilities and Shareholders Equity Trade payables $21,000 $9.000 Mortgage notes payable 37,000 45,000 Common shares 40,000 23,000 Retained earnings 24.002 10.000 Total liabilities and shareholders equity $122.000 $87.000 Additional information: 1. Net income for the year ending December 31, 2020 were $27.000 2. Cash dividends of $13,000 were declared and paid during the year ended December 31 2020. 3. Long-term investments that had a carrying amount of $23,000 were sold for $18,000 in 2020 Prepare only the cash flow from operating activities for the year ended Dec 31, 2020 using the indirect method. E i B I T: % S X2 #

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