Additional Information for the 2021 Fiscal Year ($ in thousands)

A. Cash dividends of $1500 were declared and paid.

B. Equipment costing $5000 was purchased with cash

C. Equipment with a book value of $500(cost of $1500 less accumulated deprecation of $1000) was sold for $500

D. Depreciation of $1600 is included in operating expenses

Required:

A. Prepare Kenne Diagnostics Inc. 2021 statement of cash flows, using indirect method to present cash from operating activities

B. IAS No. 7 [Statement of Cash flows "International Accounting Standard No.7 (IASCF), as amended effective Jan 1. 2016] allows for more flexibility to prepare the statement of cash flows. How does IFRS differ from US-GAAP in terms of the classification of items in a statement of cash flows?

2. Presented below are the 2021 income statement and comparative balance sheets for Kenne Diagnostics, Inc. Additional information for the 2021 fiscal year (\$ in thousands)