The Comparative balance sheets for RENK company appear below:
RENK COMPANY
comparative Balance sheet.
Additional information
1 net income for the year ending december 31, 2020, was $30000.
2 cash dividends of ＄12000 were declared and paid during the year.
3 stock investments that had a book value of $18000 were sold for $13000.
4 sales for 2020 are $130000.
Prepare a statement of cash flows for the year ended dec 31,2020, using indirect method. 1 Asset 2 Cash Account Receivable Inventory s Prepaid Insuranse stock investments 7 Equipment Accumulated depreciation - equipment Total Asset 10 Liabilities and Stockholders' equity 11 Account Payable 12 Bonds Payable i 13 Common stock 14 Retained Earnings 19 Total liabilities and astockholders' equity 16 31-Dec-20 38000 18000 25000 7000 0 60000 -18000 130000 25000 37000 40000 28000 130000 C 31-Dec-19 13000 14000 15000 9000 18000 30000 -14000 85000 7000 45000 23000 10000 85000 Decrease or increase