opped Book Print erences Following is a statement of cash flows (indirect method) for Hartford Inc. for the year ended D

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Opped Book Print Erences Following Is A Statement Of Cash Flows Indirect Method For Hartford Inc For The Year Ended D 1 (34.44 KiB) Viewed 9 times

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opped Book Print erences Following is a statement of cash flows (indirect method) for Hartford Inc. for the year ended December 31, 2020. Also shown is a partially completed comparative balance sheet as of December 31, 2020 and 2019: HARTFORD INC. Statement of Cash Flows For the year Ended December 31, 2020 Cash Flows from Operating Activities: Net income Add (deduct) items not affecting cash: Depreciation expense Decrease in accounts receivable Increase in Inventory Increase in notes payable Decrease in accounts payable Net cash provided by operating activities Cash Flows from Investing Activities: Purchase of equipment Purchase of buildings Net cash used by investing activities Cash Flows from Financing Activities: Proceeds from short-term debt Cash used for retirement of long-term debt Proceeds from issuance of common stock Payment of cash dividends on common stock Net cash used by financing activities Net decrease in cash for the year S 5,400 27,000 13,800 (4,200) 7,200 (3,600) $ 45,600 $ (30,000) (28,000) $(58,800) $ 3,000 (15,000) 6,000 (1,800) $(7,800) $(21,000) Required: a. Complete the December 31, 2020 and 2019 balance sheets. b. Complete the statement of changes in retained earnings for the year ended December 31, 2020.

Assets: Current assets: Cash Accounts receivable Inventory Total current assets Land Buildings and equipment Less Accumulated depreciation Total land, buildings and equipment Total assets. Liabilities: Current liabilities: Accounts payable Short-term debt At December 31, 2020 and 2019 Notes payable Total current liabilities Long-term debt Stockholders' Equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 2020 33,600 156,000 19,200 51,000 $ 24,000 2019 $ 52,800 43,800 $ 24,000 (73,800) 17,400 21,600 Saved

Required A Required B Complete the statement of changes in retained earnings for the year ended December 31, 2020. (Amou should be indicated by a minus sign.) HARTFORD INC. Statement of Changes in Retained Earnings For the Year Ended December 31, 2020 Retained earnings, January 1, 2020 Retained earnings, December 31, 2020 < Required A 0 Required B