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A comparative balance sheet for Bonita Corporation is presented below: Cash Accounts receivable (net) Prepaid...

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Accounting

A comparative balance sheet for Bonita Corporation is presented below: Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Total assets Accounts payable onds payable ommon stock tained earnings BONITA CORPORATION Comparative Balance Sheet Assets 2020 $41,700 Liabilities and Stockholders' Equity 72,850 27,850 19,900 71,900 (22,850) $211,350 $13,850 28,900 145,700 22,900 2019 $32,900 61,900 18,900 48,550 61,900 (14,900) $209,250 $7,900 20,900 116,900 63,550
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ained earnings 1. Net loss for 2020 is $24,750. 2. Cash dividends of $15,900 were declared and paid in 2020 . 3. Land was 50dd for cash at a loss of $5,900. This was the only land transaction during the year. 4. Equipment with a cost of $18,800 and accumulated depreciation of $11,900 was sold for $6.900 cash. 5. $23,900 of bonds were retired during the year at carrying (book) value. 6. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $28,800. Prepare a statement of cash flows for the year ended 2020. using the indirect method. (Show amounts that decrease cash flow either a - sign e.g. 3,000 or in parenthesis e.g. (15,000)

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