30.Comparative balance sheet accounts of Blue Inc. are presented...

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30.Comparative balance sheet accounts of Blue Inc. are presented below.																						BLUE INC.COMPARATIVE BALANCE SHEET ACCOUNTSAS OF DECEMBER 31, 2020 AND 2019																																						December 31																								Debit Accounts																							2020																												2019																			Cash													$41,900																	$33,600														Accounts Receivable													70,600																	60,500														Inventory													29,900																	24,000														Equity investments													22,100																	38,800														Machinery													30,300																	18,700														Buildings													66,900																	56,500														Land													7,600																	7,600																											$269,300																	$239,700																																													Credit Accounts																														Allowance for Doubtful Accounts													$2,200																	$1,500														Accumulated Depreciation—Machinery													5,600																	2,200														Accumulated Depreciation—Buildings													13,700																	9,000														Accounts Payable													35,300																	24,700														Accrued Payables													3,400																	2,600														Long-Term Notes Payable													20,800																	31,200														Common Stock, no-par													150,000																	125,000														Retained Earnings													38,300																	43,500																											$269,300																	$239,700											Additional data (ignoring taxes):																1.												Net income for the year was $40,700.															2.												Cash dividends declared and paid during the year were $20,900.															3.												A 20% stock dividend was declared during the year. $25,000 of retained earnings was capitalized.															4.												Equity investments (level of ownership is less than 20%) that cost $24,900 were sold during the year for $28,600. No unrealized gains and losses were recorded on these investments in 2020.															5.												Machinery that cost $3,800, on which $750 of depreciation had accumulated, was sold for $2,250.							Blue’s 2020 income statement follows (ignoring taxes).											Sales revenue																									$535,200														Less: Cost of goods sold																									377,900														Gross margin																									157,300														Less: Operating expenses (includes $8,850 depreciation and $5,817 bad debts)																									119,500														Income from operations																									37,800														Other: Gain on sale of investments													$3,700																										          Loss on sale of machinery													(800													)																	2,900														Net income																									$40,700												(a) Compute net cash flow from operating activities using the direct method.		(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)													Net cash flow from operating activities													$												(b) Prepare a statement of cash flows using the indirect method.		(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)																								BLUE INC.Statement of Cash Flows													(Indirect Method)																																																																				$														Adjustments to reconcile net income to																																																															$																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																																							$

30. Comparative balance sheet accounts of Blue Inc. are presented below. BLUE INC. COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31, 2020 AND 2019 December 31 Debit Accounts 2020 2019 Cash $41,900...

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BLUE INC. COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31, 2020 AND 2019
	December 31
Debit Accounts	2020	2019
Cash	$41,900	$33,600
Accounts Receivable	70,600	60,500
Inventory	29,900	24,000
Equity investments	22,100	38,800
Machinery	30,300	18,700
Buildings	66,900	56,500
Land	7,600	7,600
	$269,300	$239,700

Credit Accounts
Allowance for Doubtful Accounts	$2,200	$1,500
Accumulated Depreciation—Machinery	5,600	2,200
Accumulated Depreciation—Buildings	13,700	9,000
Accounts Payable	35,300	24,700
Accrued Payables	3,400	2,600
Long-Term Notes Payable	20,800	31,200
Common Stock, no-par	150,000	125,000
Retained Earnings	38,300	43,500
	$269,300	$239,700

1.		Net income for the year was $40,700.
2.		Cash dividends declared and paid during the year were $20,900.
3.		A 20% stock dividend was declared during the year. $25,000 of retained earnings was capitalized.
4.		Equity investments (level of ownership is less than 20%) that cost $24,900 were sold during the year for $28,600. No unrealized gains and losses were recorded on these investments in 2020.
5.		Machinery that cost $3,800, on which $750 of depreciation had accumulated, was sold for $2,250.

Sales revenue			$535,200
Less: Cost of goods sold			377,900
Gross margin			157,300
Less: Operating expenses (includes $8,850 depreciation and $5,817 bad debts)			119,500
Income from operations			37,800
Other: Gain on sale of investments	$3,700
Loss on sale of machinery	(800	)	2,900
Net income			$40,700

BLUE INC. Statement of Cash Flows (Indirect Method)

		$
Adjustments to reconcile net income to

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		$