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A comparative balance sheet for Oriole Company appears below: ORIOLE COMPANY Comparative Balance Sheet Assets...

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Accounting

A comparative balance sheet for Oriole Company appears below: ORIOLE COMPANY Comparative Balance Sheet Assets Dec. 31,2020 Dec. 31,2019 Cash $47,000 $17,500 Accounts receivable 31,00019,500 Inventory 38,00023,500 Prepaid expenses 12,50022,000 Long-term investments 30,000 Equipment 79,50039,500 Accumulated depreciation- equipment (33,000)(21,500) Total assets $175,000 $130,500 Liabilities and Stockholders' Equity Accounts payable $30,000 $13,500 Bonds payable 42,50058,000 Common stock 53,00029,500 Retained earnings 49,50029,500 Total liabilities and stockholders' equity $175,000 $130,500 Additional information: 1. Net income for the year ending December 31,2020 was $41,500.2. Cash dividends of $21,500 were declared and paid during the year. 3. Long-term investments that had a cost of $30,000 were sold for $20,500.4. Sales for 2020 were $126,500. Prepare a statement of cash flows for the year ended December 31,2020, using the indirect method. (Show amounts that decrease ash flow with either a - sign e.g.-15,000 or in parenthesis e.g.(15,000).)

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