year 2020 are as followS. CULLUMBER INC. BALANCE SHEETS Dec. 31, 2020 Jan. 1, 2020 Inc./Dec....

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year 2020 are as followS. CULLUMBER INC. BALANCE SHEETS Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash $46,260 $14,260 $32,000 Inc. Accounts receivable 94,980 90,720 4,260 Inc. Equipment 42,980 24,720 18,260 Inc. Less: Accumulated Depreciation-Equipment 20,980 11,000 9,980 Inc. Total $163.240 $118,700 Liabilities and Stockholders' Equity Accounts payable $ 23,980 $17,720 6.260 Inc. Common stock 101,260 82,720 18,540 Inc. Retained earnings 38,000 18,260 19,740 Inc. Total $163,240 $118,700 Net income of $47,980 was reported, and dividends of $28,240 were paid in 2020. New equipment was purchased and none was sol Prepare a statement of cash flows for the year 2020. (Show amounts that decrease cash flow with either a-sign eg -15,000 or in parenthesis eg. (15,000),) Net income of $47,980 was reported, and dividends of $28,240 were paid in 2020. New equipment was purchased and none was sold. Prepare a statement of cash flows for the year 2020. (Show amounts that decrease cash flow with elther a- sign eg -15,000 or in parenthesis eg (15,000)J CULLUMBER INC. Statement of Cash Flows For the Year Ended December 1. 2020 Cash Flows from Operating Activities Net Income 47,900 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Increase in AcCounts Receivable V Increase in Accounts Payable Net Cash Provided by Operating Activities V Cash Flows from Investing Activities Purchase of Equipment Cash Flows from Financing Activities Issuance of Common Stock Payment of Cash Dividends Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Year Cash at End o Year year 2020 are as followS. CULLUMBER INC. BALANCE SHEETS Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash $46,260 $14,260 $32,000 Inc. Accounts receivable 94,980 90,720 4,260 Inc. Equipment 42,980 24,720 18,260 Inc. Less: Accumulated Depreciation-Equipment 20,980 11,000 9,980 Inc. Total $163.240 $118,700 Liabilities and Stockholders' Equity Accounts payable $ 23,980 $17,720 6.260 Inc. Common stock 101,260 82,720 18,540 Inc. Retained earnings 38,000 18,260 19,740 Inc. Total $163,240 $118,700 Net income of $47,980 was reported, and dividends of $28,240 were paid in 2020. New equipment was purchased and none was sol Prepare a statement of cash flows for the year 2020. (Show amounts that decrease cash flow with either a-sign eg -15,000 or in parenthesis eg. (15,000),) Net income of $47,980 was reported, and dividends of $28,240 were paid in 2020. New equipment was purchased and none was sold. Prepare a statement of cash flows for the year 2020. (Show amounts that decrease cash flow with elther a- sign eg -15,000 or in parenthesis eg (15,000)J CULLUMBER INC. Statement of Cash Flows For the Year Ended December 1. 2020 Cash Flows from Operating Activities Net Income 47,900 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Increase in AcCounts Receivable V Increase in Accounts Payable Net Cash Provided by Operating Activities V Cash Flows from Investing Activities Purchase of Equipment Cash Flows from Financing Activities Issuance of Common Stock Payment of Cash Dividends Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Year Cash at End o Year

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Statement of Cash Flows For the Year Ended December 31 2017 Cas... View the full answer