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Cullumber Enterprises Balance Sheet and Income Statement Data December 31, 2020 December 31, 2019 Current Assets:...

Cullumber Enterprises Balance Sheet and Income Statement Data December 31, 2020 December 31, 2019 Current Assets: Cash AccounRetained Earnings Total Stockholders Equity Total Liabilities & Stockholders Equity 396,440 937,040 1,639,820 360,400 855,9Cullumber Enterprises Statement of Cash Flows $ Adjustments to reconcile net income to $ 4 4 4事 * 了 $

Cullumber Enterprises Balance Sheet and Income Statement Data December 31, 2020 December 31, 2019 Current Assets: Cash Accounts Receivable Inventory Total Current Assets $162,180 252,280 414,460 828,920 $126,140 324,360 360,400 810,900 Property, Plant, and Equipment Less: Accumulated Depreciation 1,315,460 (504,560) 810,900 $1,639,820 1,189,320 (468,520) 720,800 $1,531,700 Total Assets Current Liabilities: Accounts Payable Notes Payable Income Taxes Payable Total Current Liabilities $198,220 54,060 90,100 342,380 $108,120 72,080 81,090 261,290 Bonds Payable Total Liabilities 360,400 702,780 414,460 675,750 Stockholders' Equity: Common Stock 540,600 495,550
Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity 396,440 937,040 1,639,820 360,400 855,950 1,531,700 Sales Revenue Less Cost of Goods Sold Gross Profit $1,711,900 796,060 $1,603,780 774,860 915,840 828,920 Expenses: Depreciation Expense Salaries and Wages Expense Interest Expense Loss on Sale of Equipment 144,160 378,420 162,180 414,460 36,040 12,720 36,040 0 558,620 Income Before Taxes Less Income Tax Expense 625,400 290,440 116,176 174,264 270,300 108,120 Net Income 162,180 Additional Information: During the year, Cullumber sold equipment with an original cost of $162,180 and accumulated depreciation of $126,140 and purchased new equipment for $288,320. Prepare a statement of cash flows for the year ending December 31, 2020. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).)
Cullumber Enterprises Statement of Cash Flows $ Adjustments to reconcile net income to $ 4 4 4
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