Use the comparative balance sheets and addtional infomration presented below to prepare a Cash Flow Statement for the period ended 12/31/2020: 12/31/2020 12 Assets: Current Assets: Cash Accounts receivable Inventory Prepaid expenses 51,000 27,000 37,500 9,000 Non-Current Assets: 90,000 Equipment Less: Accumlated Depreciation- Equipment Land (30,000) 10,000 194,500 Total Assets Liabilities: Current Liabilities: Accounts payable 25,500 Long Term Debt: Bonds payable 54,000 Equity: 60,000 Common stock Retained earnings 55,000 194,500 Total Liabilities and Equity Liabilities: Current Liabilities: Accounts payable 25,500 Long Term Debt: Bonds payable 54,000 Equity: Common stock Retained earnings 60,000 55,000 194,500 Total Liabilities and Equity 1 2 3 4 Net income for the year ending December 31, 2020 was $52,500. Cash dividends of $22,500 were declared and paid during the year. Land that had a cost of $25,500 were sold for $21,000. Sales for 2020 were $180,000. Depreciation Expense was $7,500 Equipment was purchased with cash. No equipment was sold. Common stock was issued for cash. Bonds were retired with cash. 6 in 0 7 HTML Editor BIVAA. IX E 1 1 1 , E T1 12pt Paragraph D mparative balance sheets and addtional infomration presented below to prepare a Cash ment for the period ended 12/31/2020: 12/31/2020 12/31/2019 sets: sets: 16,500 Cash Accounts receivable Inventory Prepaid expenses 51,000 27.000 37.500 9,000 19.500 25,500 13,500 int Assets: ent Assets: 90,000 49.500 Equipment Less: Accumlated Depreciation Equipment Land (30,000) (22,500) 10,000 194,500 35,500 137,500 ts abilities: Accounts payable 25,500 10,500 Debt: 11 Bonds payable 54,000 67,500 Common stock Retained earnings 60,000 55,000 194,500 34,500 25,000 137,500 lities and Equity