24&facid=466&facultyid=5214 POC nslate connrmation (4) (20 MARKS) ON THE BASIS OF THE FOLLOWING DATA FOR BRANCH CO. FOR THE CURRENT AND PRECEDING YEARS ENDED DECEMBER 31, PREPARE A STATEMENT OF CASH FLOWS USING THE INDIRECT METHOD. ASSUME EQUIPMENT WAS PURCHASED, ON CASH COSTING 93,750 11,250 LAND WAS SOLD FOR NET INCOME EANED IN CURRENT YEAR DIVIDENDS DECLARED AND EARNED 42000 13500 STOCK WAS ISSUED FOR CASH BALANCE SHEET PRIOR YEAR CURRENT YEAR 48750 CASH 40500 58500 63750 ACCOUNTS RECEIVABLE (NET) INVENTORIES 79875 67500 LAND 0 15000 371250 277500 EQUIPMENT ACCUMULATED DEPRECIATION -161250 -118500 397125 345750 0 0 40125 41250 150000 127500 ACCOUNTS PAYABLE (MERCHANDISE CREDITORS) COMMON STOCK, $10 PAR PAID-IN CAPITAL IN EXCESS OF PAR-COMMON STOCK RETAINED EARNINGS 46500 45000 160500 132000 345750 397125 5 99 599 JUNI 9 24&facid=466&facultyid=5214 POC nslate connrmation (4) (20 MARKS) ON THE BASIS OF THE FOLLOWING DATA FOR BRANCH CO. FOR THE CURRENT AND PRECEDING YEARS ENDED DECEMBER 31, PREPARE A STATEMENT OF CASH FLOWS USING THE INDIRECT METHOD. ASSUME EQUIPMENT WAS PURCHASED, ON CASH COSTING 93,750 11,250 LAND WAS SOLD FOR NET INCOME EANED IN CURRENT YEAR DIVIDENDS DECLARED AND EARNED 42000 13500 STOCK WAS ISSUED FOR CASH BALANCE SHEET PRIOR YEAR CURRENT YEAR 48750 CASH 40500 58500 63750 ACCOUNTS RECEIVABLE (NET) INVENTORIES 79875 67500 LAND 0 15000 371250 277500 EQUIPMENT ACCUMULATED DEPRECIATION -161250 -118500 397125 345750 0 0 40125 41250 150000 127500 ACCOUNTS PAYABLE (MERCHANDISE CREDITORS) COMMON STOCK, $10 PAR PAID-IN CAPITAL IN EXCESS OF PAR-COMMON STOCK RETAINED EARNINGS 46500 45000 160500 132000 345750 397125 5 99 599 JUNI 9