Solution-Prepare statement of cash flows for Pearl

Prepare statement of cash flows for Pearl Corporation

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Reference no: EM132587248

Question - The following is a condensed version of the comparative balance sheets for Pearl Corporation for the last two years at December 31.

	2020	2019
Cash	$212,400	$93,600
Accounts receivable	216,000	222,000
Investments	62,400	88,800
Equipment	357,600	288,000
Accumulated Depreciation-Equipment	(127,200)	(106,800)
Current liabilities	160,800	181,200
Common stock	192,000	192,000
Retained earnings	368,400	212,400

Additional information: Investments were sold at a loss of $12,000; no equipment was sold; cash dividends paid were $36,000; and net income was $192,000.

Required - Prepare statement of cash flows for 2020 for Pearl Corporation.

Reference no: EM132587248

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Prepare statement of cash flows for Pearl Corporation

Reference no: EM132587248

Reference no: EM132587248

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