Statement of Cash Flows

Comparative balance sheets for International Company are presented below

1. Net income for 2020 was $135,000.
2. Cash dividends of $70,000 were declared and paid.
3. Bonds payable amounting to $50,000 were redeemed for cash $50,000
4. Common stock was issued for $50,000 cash.
5. Depreciation expense was $24,000.
6. Sales revenue for the year was $978,000.
7. Land was sold at cost, and equipment was purchased for cash.

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