Wildhorse Inc., a greeting card company, had the following statements prepared as of December 31, 2020. Additional information: Prepare a statement of cash flows using the direct method. (Show amounts in the investing and financing sections that decrease cash flow with either a sign e.g. - 15,000 or in parenthesis e.g. (15,000).)

. ABC company had the following transactions during the month of April 2020. They would like you, their accountant, to prepare a cash flow statement. Before preparing the statement, you first need to determine whether the items below results in a cash inflow or outflow in the statement of cash flows. Second, you are required to determine whether the transaction is an operating, investing, or financing activity by placing an √ in the appropriate columns.

Using the indirect method, prepare the cash flows provided by operating activities section of the statement of cash flows for 2020.(Show amounts that decrease cash flow with either a - sign, e.g. -15,000 or in parentheses, e.g. (15,000).)   Mallory Michaels, senior accountant for Trendy Fashions, has gathered the following balances from the company’s general ledger:     December 31, 2020   December 31, 2019 Accounts Receivable   $60,000     $65,000     Inventories   120,000     117,406     Prepaid Expenses   4,500     3,900     Accounts Payable   50,378     51,000     Accrued Liabilities   12,000     14,000     Income Taxes Payable   2,700     2,500     Net Income   710,000           Depreciation Expense   65,000           Gain on the sale of land   15,000           Using the indirect method, prepare the cash flows provided by operating activities section of the statement of cash flows for 2020.(Show amounts that decrease cash flow with…

Instructions Prepare a statement of cash flows using the direct method. (Do not prepare a reconciliation schedule.) E23.13 (LO 2, 3) (SCF-Direct Method) Brecker Inc., a greeting card company, had the following statements prepared as of December 31, 2020. Brecker Inc. Comparative Balance Sheet As of December 31, 2020 and 2019 Cash Accounts receivable Short-term debt investments (available-for-sale) Inventory Prepaid rent Equipment Accumulated depreciation-equipment Copyrights Total assets Accounts payable Income taxes payable Salaries and wages payable Short-term loans payable Long-term loans payable Common stock, $10 par Contributed capital, common stock Retained earnings Total liabilities and stockholders' equity 12/31/20 $ 6,000 62,000 35,000 40,000 5,000 154,000 (35,000) 46,000 $313,000 $ 46,000 4,000 8,000 8,000 60,000 100,000 30,000 57,000 $313,000 12/31/19 $ 7,000 51,000 18,000 60,000 4,000 130,000 (25,000) 50,000 $295,000 $ 40,000 6,000 4,000 10,000 69,000 100,000 30,000 36,000…