MachinesAccumulated depreciationMachinesTotal Assets114.000104 000(28,000)(20 000)$314,000$244,000Liabilities & Stockholders'EquityNote payableBonds payable (long-term)Common StockRetained Earnings$74,00064 00080 00096 000$54.00086,00044 000.60,000Total Liabilities & Stockholders'Equity$314,000S244,000Income Statement & Additional information:1. Net income for the current year ending December 31 2020 is $58 0002. Sold investments for cash, cost $36,000 and resulting in $6 000 gain.3. The only changes affecting retained earnings are net income and cash dividends paid.4 All the following transactions are in cash: Purchased new machines, repay bonds payable; and issuance common stockRequired:Prepare the full statement of cash flows using indirect method for the year ended December 31, 2020.(PLEASE FROMIDE EACH AMOUNT ITEM INA SEPARATELINE)For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).Paragranh The following comparative balance sheets 2019 & 2020 and additional information for National Company are given:Dec 31,2020$152 00048 00028 000|Dec 312019$44 .00042 000/38 00036 000104 000AssetsCashAccounts ReceivableInventory and suppliesInvestmentsMachinesAccumulated depreciation-MachinesTotal Assets114 000(28 000)$314,000(20 000)$244 000Liabilities & Stockholders'EquityNote payableBonds payable (long-term)Common Stock$74,00064,00030 00096 000$54,00086.00044,00060 000Retained EarningsTotal Liabilities & Stockholders'$314.000$244.000EquityIncome Statement & Additional information:1. Net income for the current year ending December 31 2020 is $58,00O.2. Sold investments for cash, cost $36,000 and resulting in $6,000 gain.3. The only changes affecting retained earnings are net income and cash dividends paid.4. All the following transactions are in onol

The cash flow statement would show the change in cash during operating, investing and financing…

Answered: Prepare the full statement of cash…

Business

Accounting

Prepare the full statement of cash flows using indirect method for the year ended December 31, 2020.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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