2. Prepare the company's cash flow statement for the year 2020. (2 marks) Income statement during the year 2019-2020 Amount 900,000 5000 Particulars sales Less: Coast of goods sold 600 000 Depreciation expense Pulant expense Research and develop - 30,000 ment expense Genu al and administrat- H9000 ive enpense selling expense Utilities expense . 10000 20000 45000 Total expenses operating income before Tan Less: Tan @35% operlting mcome atu tan (750000) 150000 52500 97,500 after Balance sheet for the year ended 2020 Imount Notes to Accounti 1 Assete Curent Assets Cash and Cash Equivalents Accounts Receivable Inventory other current Asset 310,000 59000 10,000 40000 Non current Asset fined Assets 2 606 Total Assets 1,016,000 Note de Amount Accounti Liabilities and owner's Equity Current Liabilities Accounts payable Notu payable Short term loan Othu usrent liabilinu 5000 39000 13500 68,500 3 Non uurimit abilithe Long tum loan 60,000 owner's Equity 221500 Share Capital (100000 Shave x leach) 100,000 Retained Earnings : Beginning balance (balancing fique Add paid in capital inenusay pawalue Yagoto Add operating income glue Han 739,000 Total liabilities and owner's fequity 1076,000 97500 4 Notes to Accounts: 1. cash and cash equivalents Cash Muketable seawuiti Total Topoo .310000 2. fined Assets Property, plant and Equipment 38.000 Machinery 60,900 furniture 70,000 Vehicle 120.000 Liss! Accumulated depreciation 631000 (25000 606000 Total 3. Other current Liabilities: Dividend payable Tan payable Total 16,000 52,500 68.500 Information for the year 2020 Marketable Securities 10,000.00 Accounts Receivable 50,000.00 Inventory 10,000.00 Number of shares outstanding 100,000.00 Other current assets 40,000.00 Propert, Plant and equipment 381,000.00 Machinery 60,000.00 Furniture 70,000.00 Vehicles 120,000.00 Paid in capital in excess of par value 420,000.00 Par value of stock 1.00 Notes payable 30,000.00 Accounts payable 5,000.00 Long term loan 60,000.00 Short term loan 13,500.00 Dividends 16,000.00 Cash 300,000.00 Accumulated depreciation 25,000.00 Sales 900,000.00 Depreciation expense 5,000.00 Selling expense 20,000.00 Cost of goods sold 600,000.00 Research and development expense 30,000.00 General and administrative expense 40,000.00 Interest expense 10,000.00 Tax rate 35% Utilities expense 45,000.00 Beginning balance of retained earnings