Answer Happy

Condensed financial data of Headland Company for 2020 and 2019 are presented below. HEADLAND COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 2019 Cash $1,830 $1,160 Receivables 1,750 1.270 Inventory 1,580 1.860 Plant assets 1,900 1,690 (1.190) (1.150 Accumulated depreciation Long-term investments (held-to-maturity) 1.280 1.400 $7.150 $6,230 $1,220 $920 Accounts payable Accrued liabilities Bonds payable 210 250 1.410 1,520 Common stock 1.910 1,730 Retained earnings 2.400 1,810 $7,150 $6,230
HEADLAND COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6,930 Cost of goods sold 4,670 Gross margin 2,260 Selling and administrative expenses 940 Income from operations 1,320 Other revenues and gains Gain on sale of investments 80 Income before tax 1.400 Income tax expense 550 Net income 850 Cash dividends 260 Income retained in business $590 Additional information: During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2020,
HEADLAND COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 (Indirect Method) Cash Flows from Operating Activities Net Income $ Adjustments to reconcile net income to Cash Flows from Operating Activities $ Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by investing Activities Net Cash used by Operating Activities Net Decrease in Cash Net Increase in Cash Noncash investing and Financing Activities
A | III 시