Star Inc.'s balance sheet accounts as of December 31, 2019 and 2020, and information relating to...

 

 

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Star Inc.'s balance sheet accounts as of December 31, 2019 and 2020, and information relating to 2020 activities, are presented below. December 31 2020 2019 Assets Cash Accounts receivable, net Investments, short-term Inventory Property, plant & equipment (PPE). Accumulated depreciation.... Patents, net... Total assets... Liabilities and shareholders' equity Accounts payable... Income tax payable Long-term notes payable. Common shares.. Retained earnings Total liabilities and shareholders' equity... Information relating to 2020 activities: $251,500 $226,000 917,000 1,059,000 462,000 0 747,500 1,149,000 566,000 1,249,500 (486,000) (639,000) 361,500 396,000 $2,819,500 $3,440,500 $639,500 $531,500 187,000 408,000 711,000 1,119,000 701,500 449,500 580,500 932,500 $2,819,500 $3,440,500 • Cash dividends of $1,042,000 were declared and paid in 2020. Equipment costing $813,500 and having a carrying amount of $563,500 was sold for $593,500. • Investments in short-term securities consist of treasury bills maturing on February 15, 2021. • Changes in other balance sheet accounts resulted from usual transactions and events. Please make sure your final answer(s) are accurate to the nearest whole number. Determine the following amounts for Star Inc. for the year 2020: a) Net cash from operating activities (indirect method) = b) Net cash from investing activities = c) Net cash from financing activities = Star Inc.'s balance sheet accounts as of December 31, 2019 and 2020, and information relating to 2020 activities, are presented below. December 31 2020 2019 Assets Cash Accounts receivable, net Investments, short-term Inventory Property, plant & equipment (PPE). Accumulated depreciation.... Patents, net... Total assets... Liabilities and shareholders' equity Accounts payable... Income tax payable Long-term notes payable. Common shares.. Retained earnings Total liabilities and shareholders' equity... Information relating to 2020 activities: $251,500 $226,000 917,000 1,059,000 462,000 0 747,500 1,149,000 566,000 1,249,500 (486,000) (639,000) 361,500 396,000 $2,819,500 $3,440,500 $639,500 $531,500 187,000 408,000 711,000 1,119,000 701,500 449,500 580,500 932,500 $2,819,500 $3,440,500 • Cash dividends of $1,042,000 were declared and paid in 2020. Equipment costing $813,500 and having a carrying amount of $563,500 was sold for $593,500. • Investments in short-term securities consist of treasury bills maturing on February 15, 2021. • Changes in other balance sheet accounts resulted from usual transactions and events. Please make sure your final answer(s) are accurate to the nearest whole number. Determine the following amounts for Star Inc. for the year 2020: a) Net cash from operating activities (indirect method) = b) Net cash from investing activities = c) Net cash from financing activities =

Answer rating: 100% (QA)

To determine the amounts for Star Inc for the year 2020 well calculate net cash from operating activ... View the full answer