BE23.9 (LO 2, 3) Colbert Corporation had the following 2020 income statement. Revenues $100,000 Expenses 60,000 Net income $ 40,000 In 2020, Colbert had the following activity in selected accounts. Accounts Receivable Allowance for Doubtful Accounts 1/1/20 Bad debt expense 1/1/20 20,000 1,200 Revenues 100,000 1,000 Write-offs Write-offs 1,000 1,840 90,000 Collections 12/31/20 29,000 2,040 12/31/20 Prepare Colbert's cash flows from operating activities section of the statement of cash flows using (a) the direct method and (b) the indirect method.

Skysong Corporation had the following 2025 Income statement. Revenues $103,000 Expenses Net income In 2025, Skysong had the following activity in selected accounts. Accounts Receivable 21,000 Revenues 103,000 Write-offs Collections 1/1/25 66,000 $37,000 12/31/25 29.100 Allowance for Doubtful Accounts 1/1/25 Write-offs 900 Bad debt expense 12/31/25 (a) 900 94,000 1,300 1,700 2,100 Prepare Skysong's cash flows from operating activities section of the statement of cash flows using the din SKYSONG CORPORATION Statement of Cash Flows-Direct Method (Partial)

26. Coronado Inc., a greeting card company, had the following statements prepared as of December 31, 2020. CORONADO INC.COMPARATIVE BALANCE SHEETAS OF DECEMBER 31, 2020 AND 2019     12/31/20   12/31/19 Cash   $5,900     $7,000   Accounts receivable   61,400     51,500   Short-term debt investments (available-for-sale)   35,000     18,200   Inventory   40,000     60,500   Prepaid rent   5,000     4,100   Equipment   152,900     131,100   Accumulated depreciation—equipment   (35,200 )   (25,100 ) Copyrights   45,800     50,000   Total assets   $310,800     $297,300                 Accounts payable   $46,100     $40,100   Income taxes payable   3,900     5,900   Salaries and wages payable   8,000     4,000   Short-term loans payable   8,100     10,000   Long-term loans payable   60,400     69,300   Common stock, $10 par   100,000     100,000…

The following information (in millions) was taken from the December 31 financial statements Accounts receivable, gross Allowance for expected credit losses Accounts receivable, net Revenues Total current assets Total current liabilities 13) Calculate the current ratio for 2020 13) 2021 $ 1.102 28 1,074 14,477 3,426 3,120 2020 $ 1.080 26 1,054 13,819 3,102 3,274 2019 $ 1.241 28 1,213 14,917 2,830 4,287