Attached is the comparative Balance Sheet for XYZ Inc. as at December 31, 2020 and...
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Attached is the comparative Balance Sheet for XYZ Inc. as at December 31, 2020 and December 31, 2019. XYZ has never paid a Dividend. Selected financial data for 2020 is as follows: Depreciation expense.........$2,000.00 Net Income (after tax).. $5,000.00 Sales revenue $100,000 Required: Prepare, in proper format, a Statement of Cash Flows for the year ended December 31, 2020. Show ALL supporting calculations. XYZ Inc. Balance Sheet.xlsx XYZ Inc. Balance Sheet 31-Dec 2020 2019 Cash Accts Receivable Inventory $14,210 $1,500 $7,500 $1,700 $2,500 $15,000 Total Current Assets $23,210 $19,200 Property Plant & Equipment (net) $8,000 $10,000 Total Assets $31,210 $29,200 Accounts Payable Accrued Liabilities $2,500 $1,700 $750 $800 Total Current Liabilities $4,200 $1,550 Long Term Debt $12,000 $17,640 Total Liabilities $16,200 $19,190 Capital Stock Retained Earnings $10 $15,000 $10 $10,000 Total Equity $15,010 $10,010 Total Liabilities + Total Equity $31,210 $29,200
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