80.2K

Verified Solution

Link Copied!

Question 4 of 4 3 038/2 The comparative balance sheets of Stellar Corporation at the beginning and endothe2020 STELLAR CORPORATION BALANCE SHEETS Dec 31, 2020 Jan. 1.2020 Inc./Dec Assets Cash 521340 $14.220 $7.120 Inc Accounts receivable 107.340 89,220 18.120 the 23220 17.120 Inc 40,340 117.000 $152.020 (11.000 6.000 Inc $ 175650 Equipment Less: Accumulated Depreciation form Total Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total $21.340 $16.220 5.120 Inc 101.340 81.220 20.120 Inc 11.120 Inc 29.340 18 220 5152020 $115,660 Net income of $ 45,340 was reported and dividends of $34220 were paid in 2020. New equipment was purchased and none was sold Accounts payable $ 21,340 $16.220 5.120 Inc. Common stock 101,340 81.220 20,120 Inc. Retained earnings 29.340 18,220 11,120 Inc. Total $152,020 $115,660 Net income of $ 45,340 was reported and dividends of $ 34.220 were paid in 2020. New equipment was purchased and none was sold. (a) Your answer is partially correct. Prepare a statement of cash flows for the year 2020. (Show amounts that decrease cash flow with either a - sign eg. -15,000 or in parenthesis eg. (15,000).) STELLAR CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 y Question 4 of 4

Answer & Explanation Solved by verified expert

See Answer