Question

A comparative balance sheet for Miller Company appears below. Miller Company Comparative Balance Sheet 12/31/2019 12/31/2020
UUU Common Stock Retained Earnings Total liabilities and stockholders equity 45,080 19,600 $166,600 10,400 58.800 $241,080 A
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Net Cash Provided by operating expenses $   79,720.00
Net cash used by Investing activities $ -20,920.00
Net cash used by financing activities $ -13,720.00
Net Increase in cash $   45,080.00
Cash at the end of the period $   66,640.00
Statement of Cashflow (Indirect Method)
For the year ended dec 31,2020
Net Income $   68,600.00
Adjustment to reconcile Net income to net cash provided by operating Activities
Depreciation Expense (Beg Bal.$ 29,400-End Bal.$ 39,200)-Accumulated Depn $     9,800.00
Loss on sale of investment (Investment Value 33,320-32000) $     1,320.00
Increase in Account receivable ( Beg Bal. $25,480-End bal $ 35,280) $    -9,800.00
Increase in Inventory (Beg Bal. $33,320-End Bal $49,000) $ -15,680.00
Decrease in prepaid exp (Beg Bal. $17,640-End Bal $11,760) $     5,880.00
Increase in Account Payable ( Beg Bal. $13,720- End Bal. $33,320) $   19,600.00 $   11,120.00
Net Cash flow from operating Activities $   79,720.00 A
Cashflows from Investing Activities
Proceed from sale of Investment $   32,000.00
Purchase of new equipment (Beg Bal.$64,680-End Bal.$ 117,600 $ -52,920.00 $ -20,920.00
Net Cashflows from Investing Activities $ -20,920.00 B
Cashflows from Financing Activities
Issuance of Common Stock (Beg . Bal $45,080- End Bal $ 78,400) $   33,320.00
Payment of Dividend $ -29,400.00
Payment of Bond Payable (Beg. Bal $ 88,200- End Bal. $ 70,560) $ -17,640.00 $ -13,720.00
Net Cashflows from Financing Activities $ -13,720.00 C
Net Increase/(Decrease) in Cash $   45,080.00 A+B+C
Beginning Cash in Hand $   21,560.00
Ending Cash in Hand $   66,640.00 $   45,080.00
Net Increase/(Decrease) in Cash
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