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Question - The following is a condensed version of the comparative balance sheets for Pearl Corporation for the last two years at December 31.
2020
2019
Cash
$212,400
$93,600
Accounts receivable
216,000
222,000
Investments
62,400
88,800
Equipment
357,600
288,000
Accumulated Depreciation-Equipment
(127,200)
(106,800)
Current liabilities
160,800
181,200
Common stock
192,000
Retained earnings
368,400
212,400
Additional information: Investments were sold at a loss of $12,000; no equipment was sold; cash dividends paid were $36,000; and net income was $192,000.
Required - Prepare statement of cash flows for 2020 for Pearl Corporation.
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