Condensad financial data of Bridgaport Company for 2020 and 2019a ara presented below. BRIDGEPORT COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 2019 Cash $1820 $1.150 Receivables 1,780 1.310 Inventory 1600 1.930 Plant assets 1.930 1,710 Accumulated depreciation (1.200 ) (1,160 1 Long tarm imestments iheid to-maturity 1320 1,400 $7.250 $6.340 Accounts payabla $1190 Accrued liabilities 190 270 Bonds payable 1430 1.520 Common stock 1.900 1,730 Ratained earnings 2.540 1,940 $7.250 $6.340 BRIDGEPORT COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6.860 Cost of soods sold 4.620 Grass margin 240 Seling and administrative senses 920 Income from operations 1.320 Other revenues and gains Gain on sale of imvestments Income before tax 1400 Income taxerpense 540 Net income Cash dividends 260 Income ratained in business S600 Additional information: During the yaar. $70 of common stock was issuad in exchanga for plant assets. No plant assets ware sold in 2020. Prepare a statament af cash flows using the indirect mathod. (Show amounts that decrease cash flow with either a-signeg-15,000 or in narenthesiseg (15.000U
Condensad financial data of Bridgaport Company for 2020 and 2019a ara presented below. BRIDGEPORT COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 2019 Cash $1820 $1.150 Receivables 1,780 1.310 Inventory 1600 1.930 Plant assets 1.930 1,710 Accumulated depreciation (1.200 ) (1,160 1 Long tarm imestments iheid to-maturity 1320 1,400 $7.250 $6.340 Accounts payabla $1190 Accrued liabilities 190 270 Bonds payable 1430 1.520 Common stock 1.900 1,730 Ratained earnings 2.540 1,940 $7.250 $6.340 BRIDGEPORT COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6.860 Cost of soods sold 4.620 Grass margin 240 Seling and administrative senses 920 Income from operations 1.320 Other revenues and gains Gain on sale of imvestments Income before tax 1400 Income taxerpense 540 Net income Cash dividends 260 Income ratained in business S600 Additional information: During the yaar. $70 of common stock was issuad in exchanga for plant assets. No plant assets ware sold in 2020. Prepare a statament af cash flows using the indirect mathod. (Show amounts that decrease cash flow with either a-signeg-15,000 or in narenthesiseg (15.000U
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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