Question

Question 4 ew Policies urrent Attempt in Progress The following is a condensed version of the comparative balance sheets for Sage Corporation for ts last two years at December 31. Cash Accounts receivable Investments Equipment 2020 2019 $ 230,100 $ 101,400 234,000 240,500 67,600 96,200 387,400 312,000 (137,800) (115,700 174.200 196,300 208,000 208,000 399,100 230,100 Current liabilities Common stock Retained earnings Additional information: Investments were sold at a loss of $13.000; no equipment was sold; cash dividends paid were $39.000; and net income was $208,000. Prepare a statement of cash flows for 2020 for Sage Corporation. (Show amounts that decrease cash flow with either a - signes. -15,000 or in parenthe SAGE CORPORATION Statement of Cash Flow

Answer 1

Anso $28.000 $19,500 |$227,500 SAGE CORPORATION Statement of Cash flows for the Year Ended 31, 2020 | Cash flow from operating Acthuidies & I Net Income Adjustments to reconcille net income to net cash - provided by operating Activities Depreciation Expense $22,100 Loss on sale of ego Investment $13,000 Decrease fos Accounts receivable 6500 Decrease in current Liabilities ($2,100) be paiet Casch provided by Operating Actividres () ! Cash Plow Brom Investing Activities, o Sale of Investment (960p - 67600 - 13000) $15,000 Purchase of equipment : (975,400) Net Cash Used by investing Activities (B) Cash flow from financing Activities & Cash dividend paid Tuet Cash used by financing Activities (e) Avet Cash Inercase Olcsesse (A1B+C) Addy Beginning aalance of Case 1 Ending Balance of Cash (59800) ($39,000) 39,000 14128,700 $101,400 $230,100

s tree Cash Prochese of equipment flow of Net Cash provided by oferesting Activity - dividend & $227,500 - $75,000 $39,000 #113.100
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