Analysts following the Ivanhoe Golf Company were given the following balance sheet information for the years endedJune 30, 2020, and June 30, 2019. Construct a 2020 cash flow statement. Pictures follow.Analysts following the Ivanhoe Golf Company were given the following balance sheet information for the years ended June 30, 2020,and June 30, 2019:AssetsCash and marketable securitiesAccounts receivableInventoryOther current assetsTotal current assetsPlant and equipmentLess: Accumulated depreciationNet plant and equipmentGoodwill and other assetsTotal assetsLiabilities and EquityAccounts payable and accrualsNotes payableAccrued income taxesTotal current liabilities.Long-term debtLong-term debtTotal liabilitiesPreferred stockCommon stock (10,000 shares)Additional paid-in capitalRetained earningsLess: Treasury stockTotal common equityTotal liabilities and equity2020$33,561260,355424,04441,476$759,4361,932,019(419,269)$1,512,750382,295$2,654,4812020$378,46114,71221,350$414,523680,131680,13110,000975,615587,696(13,484)$1,559,8272019$2,654,481$16,716318,993352,89030,062$718,6611,610,048(206,828)$1,403,220412,790$2,534,6712019$1,094,654 $1,150,871$332,1548,01216,965$357,131793,740793,74010,000975,615398,185$1,383,800$2,534,671In addition, it was reported that the company had a net income of $3,155,998 and that depreciation expenses were equal to $212,441during 2020. Assume amortization expense was $0 in 2020. Cash Flows from Operating ActivitiesNet IncomeAdditions (sources of cash)Ivanhoe Golf CompanyStatement of Cash FlowsSubtractions (uses of cash)V$$

Cash flow statement shows the cash inflow and cash outflow of the company. It involves the…

Answered: Analysts following the Ivanhoe Golf…

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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Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Prepare the 2021 combined common-size, common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.)

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Analysts following the Ivanhoe Golf Company were given the following balance sheet information for the years ended June 30, 2020, and June 30, 2019: