Rodriquez Corporation’s comparative balance sheets are presented below:RODRIQUEZ CORPORATIONComparative Balance SheetsDecember 31 2020 2019Cash $16,500 $17,400 Accounts receivable 25,300 22,100 Investments 20,150 15,850 Equipment 59,950 69,850 Accumulated depreciation—equipment (13,850) (10,300) Total $108,050 $114,900 Accounts payable $14,850 $11,150 Bonds payable 10,600 30,100 Common stock 49,500 45,500 Retained earnings 33,100 28,150 Total $108,050 $114,900 Additional information:1. Net income was $18,550. Dividends declared and paid were $13,600.2. Equipment which cost $9,900 and had accumulated depreciation of $1,600 was sold for $3,300.3. No noncash investing and financing activities occurred during 2020.Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000, or in parenthesis e.g. (15,000).) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000or in parenthesis eg. (15,000))NOSKER COMPANYStatement of Cash FlowsFor the Year Ended December 31, 2020Adjustments to reconcile net income to

The cash flow statement is prepared to record the cash flow from various activities during the…

Answered: Rodriquez Corporation’s comparative…

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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Rodriquez Corporation’s comparative balance sheets are presented below:

RODRIQUEZ CORPORATION Comparative Balance Sheets December 31
	2020		2019
Cash	$16,500			$17,400
Accounts receivable	25,300			22,100
Investments	20,150			15,850
Equipment	59,950			69,850
Accumulated depreciation—equipment	(13,850	)		(10,300	)
Total	$108,050			$114,900

Accounts payable	$14,850			$11,150
Bonds payable	10,600			30,100
Common stock	49,500			45,500
Retained earnings	33,100			28,150
Total	$108,050			$114,900

Additional information:

1.		Net income was $18,550. Dividends declared and paid were $13,600.
2.		Equipment which cost $9,900 and had accumulated depreciation of $1,600 was sold for $3,300.
3.		No noncash investing and financing activities occurred during 2020.

Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000, or in parenthesis e.g. (15,000).)

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000
or in parenthesis eg. (15,000))
NOSKER COMPANY
Statement of Cash Flows
For the Year Ended December 31, 2020
Adjustments to reconcile net income to

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