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Vaughn Corporation's balance sheet at the end of 2019 included the following items. Current assets (Cash $82,000) $236,040 Land 31,040 Buildings 121,040 Equipment 91,040 Accum.depr.-buildings (31,040) Accum. depr.-equipment (11,000) Patents 41,040 Total $478,160 Current liabilities $151,040 Bonds payable 101,040 Common stock 181,040 Retained earnings 45,040 Total $478,160 The following information is available for 2020. 1. Net income was $55,040. 2. Equipment (cost $21,040 and accumulated depreciation $9,040) was sold for $11,040. 3. Depreciation expense was $5,040 on the building and $10,040 on equipment. 4. Patent amortization was $2,500. 5. Current assets other than cash increased by $29,0RO. Current liabilities increased by $14,040. 6. An addition to the building was completed at a cost of $28,040. 7. A long-term investment in stock was purchased for $16,000. 8. Bonds payable of $51,040 were issued. 9. Cash dividends of $30,000 were declared and paid. 10. Treasury stock was purchased at a cost of $11,000. Prepare a statement of cash flows for 2020. (Show amounts that decrease cash flow with either a-sign e.g.-15,C Prepare a statement of cash flows for 2020. (Show amounts that decrease cash flow with elther a-sign e.g.-1 VAUGHN CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 $ Adjustments to reconcile net income to $ Prepare a balance sheet at December 31, 2020. (Show only totals for current assets and current liabilities) (List Property, Plant and Equipment in order of Land, Building and Equipment.) VAUGHN CORPORATION Balance Sheet Assets I $ .: Liabilities and Stockholders' Equity

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