The following is a condensed version of the comparative balance sheets for Shamrock Corporation for the...

The following is a condensed version of the comparative balance sheets for Shamrock Corporation for the last two years at December 31.

	2020		2019
Cash	$ 300,900		$ 132,600
Accounts receivable	306,000		314,500
Investments	88,400		125,800
Equipment	506,600		408,000
Accumulated Depreciation-Equipment	(180,200	)	(151,300	)
Current liabilities	227,800		256,700
Common stock	272,000		272,000
Retained earnings	521,900		300,900

Additional information:

Investments were sold at a loss of $17,000; no equipment was sold; cash dividends paid were $51,000; and net income was $272,000.

Prepare a statement of cash flows for 2020 for Shamrock Corporation. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Expert Solution

Cash Flow Statement - Shamrock Corporation
Indirect Method
Cash Flow From Operating Activities
Net Income		$272,000.00
Adjustments
Add: Depreciation (180200-151300)	$28,900.00
Add: Loss on Sale of investment	$17,000.00
Add: Decrease In Accounts Receivables	$8,500.00
Less: Deccrease In Current Liabilities	-$28,900.00
		$25,500.00
Cash Flow From Operating Activities		$297,500.00
Cash Flow From Investing Activities
Sale Proceeds Of Investment (125800-88400)-17000	$20,400.00
Purchase Equipment	-$98,600.00
Cash Flow From Investing Activities		-$78,200.00
Cash Flow From Financing Activities
Cash Dividends Paid	-$51,000.00
Cash Flow From Financing Activities		-$51,000.00
Net Cash Flow For The Year		$168,300.00
Add:Beginning Cash Balance		$132,600.00
Ending Cash Balance		$300,900.00

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