The following is a condensed version of the comparative balance sheets for Del Oeste, Inc. for...

  

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The following is a condensed version of the comparative balance sheets for Del Oeste, Inc. for 2019 and 2020 at December 31. Cash Accounts receivable Investments Equipment Accumulated depreciation equipment Current liabilities Common stock Retained earnings Additional information for 2020: - Investments were sold at a loss of $30,000 - No equipment was sold during 2020 - Cash dividends paid were $90,000 -Net income was $480,000. 2020 2019 531,000 234,000 540,000 555,000 156,000 222,000 894,000 720,000 (318,000) (267,000) 402,000 453,000 480,000 480,000 921,000 531,000 Instructions: Prepare a statement of cash flows for 2020 for Del Oeste, Inc. Presented below are the balance sheet accounts for Aura, Inc. at 12/31/2020. Prepaid expenses Notes payable (to banks) Common stock, $1 par value Land Equipment Rent payable (short-term) Discount on bonds payable Buildings Bonds payable Income taxes receivable Accounts payable Notes receivable Accumulated depreciation-buildings Income taxes payable Retained earnings Accumulated depreciation equipment Debt investments (trading) Notes payable (long-term) Inventory Payroll taxes payable Cash Goodwill Preferred stock, $10 par value Rent payable (long-term) 439,600 1,325,000 1,000,000 2,400,000 7,350,000 225,000 75,000 8,200,000 1,500,000 488,150 2,450,000 2,228,500 1,351,000 491,810 ? 1,460,000 605,000 8,000,000 1,199,000 887,955 1,800,000 625,000 750,000 2,400,000 Additional information for 2020: - Common stock authorized was 4,000,000 shares, and preferred stock authorized was 200,000 shares. - Assume that notes receivable and notes payable are short-term, unless stated otherwise. - Cost and fair value of debt investments (trading) are the same. Instructions: a) Prepare a classified balance sheet in good form as of December 31, 2020. b) Show your calculations to determine Retained Earnings as of December 31, 2020. Note: Remember to calculate and present the outstanding common stock and preferred stock. The following is a condensed version of the comparative balance sheets for Del Oeste, Inc. for 2019 and 2020 at December 31. Cash Accounts receivable Investments Equipment Accumulated depreciation equipment Current liabilities Common stock Retained earnings Additional information for 2020: - Investments were sold at a loss of $30,000 - No equipment was sold during 2020 - Cash dividends paid were $90,000 -Net income was $480,000. 2020 2019 531,000 234,000 540,000 555,000 156,000 222,000 894,000 720,000 (318,000) (267,000) 402,000 453,000 480,000 480,000 921,000 531,000 Instructions: Prepare a statement of cash flows for 2020 for Del Oeste, Inc. Presented below are the balance sheet accounts for Aura, Inc. at 12/31/2020. Prepaid expenses Notes payable (to banks) Common stock, $1 par value Land Equipment Rent payable (short-term) Discount on bonds payable Buildings Bonds payable Income taxes receivable Accounts payable Notes receivable Accumulated depreciation-buildings Income taxes payable Retained earnings Accumulated depreciation equipment Debt investments (trading) Notes payable (long-term) Inventory Payroll taxes payable Cash Goodwill Preferred stock, $10 par value Rent payable (long-term) 439,600 1,325,000 1,000,000 2,400,000 7,350,000 225,000 75,000 8,200,000 1,500,000 488,150 2,450,000 2,228,500 1,351,000 491,810 ? 1,460,000 605,000 8,000,000 1,199,000 887,955 1,800,000 625,000 750,000 2,400,000 Additional information for 2020: - Common stock authorized was 4,000,000 shares, and preferred stock authorized was 200,000 shares. - Assume that notes receivable and notes payable are short-term, unless stated otherwise. - Cost and fair value of debt investments (trading) are the same. Instructions: a) Prepare a classified balance sheet in good form as of December 31, 2020. b) Show your calculations to determine Retained Earnings as of December 31, 2020. Note: Remember to calculate and present the outstanding common stock and preferred stock.