Presented Below Is a Partially Completed Balance Sheet for Baldin

question 39

Essay

Presented below is a partially completed balance sheet for Baldin, Inc., at December 31, 2020, together with comparative data for the year ended December 31, 2019.From the Statement of Cash Flows for the year ended December 31, 2020, you determine that:
• Net income for the year ended December 31, 2020, was $106,000.
• Dividends paid during the year ended December 31, 2020, were $42,000.
• Accounts receivable increased $14,000 during the year ended December 31, 2020.
• The cost of new buildings acquired during 2020, was $85,000.
• No buildings were disposed of during 2020.
• The land account was not affected by any transactions during the year,
but the fair value of the land at December 31, 2020, is $210,000.

Required:
(a.)Complete the December 31, 2020, balance sheet.
(b.)Prepare a statement of cash flows for the year ended December 31, 2020.

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Definitions:

Fatigue

A state of extreme tiredness and reduced energy, which can be physical, mental, or a combination of both, often resulting from stress, exertion, or medical conditions.

Cancer Treatment

Medical interventions aimed at combating cancer, including surgery, chemotherapy, radiation therapy, and targeted drug therapies.

Infection

The incursion and proliferation of microorganisms like bacteria, viruses, and fungi that usually do not exist inside the body.

Virus

One of the smallest known infectious agents, consisting only of nucleic acid surrounded by a protein coat; can live and grow only within the living cells of other organisms.