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Prepare a statement of cash flow for 2020 in good form using the Indirect Method...

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Accounting

Prepare a statement of cash flow for 2020 in good form using the Indirect Method for cash flows from operating activities.
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Discover Corporation reported the following balance sheet data for 2020 and 2019: 2020 2019 Cash $77,375 $22,955 Available-for-sale debt security 15,500 85.000 (not cash equivalents) Account receivables 80.000 68,250 Inventory 165,000 145.000 Prepaid insurance 1,500 2,000 Land, buildings, and equipment 1.250.000 1.125.000 Accumulated depreciation (610.000) (572.000 Total Assets $979,375 5876,205 Accounts payable Salaries payable Notes payable (current) Bonds Payable Common Stock Retain Earnings Total liabilities and shareholders' equity S76,340 S148,670 20,000 24,500 25,000 75,000 200.000 0 300,000 300,000 358,035 328.035 $979.375 5876,205 Additional information for year 2020: 1) Sold available-for-sale debt securities costing $69.500 for $74,000. 2) Equipment costing $20,000 with book value of $5.000 was sold for $6,000. 3) Issued 6% bonds payable at face value, $200,000, 4) Purchase new equipment for $145,000 cash. 5) Paid cash dividends of $20,000. 6) Net income was $50,000 Required: Prepare a statement of cash flows for 2020 in good form using the indirect method for cash flows from operating activities

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