Assignment #6 Chapters 10 & 11 Question 2 Raifi or Shine Ltd. is reporting the following information for December 31, 2019. Prepare the cash flow statement for December 31, 2019 using the direct method, under ASPE. $ 63.000 $ 6,000 Payments to suppliers Interest received on investments Payment of interest $ 16,000 $ $ $ 21,000 2,300 15,000 158,000 160,000 $ $ 5,800 A Depreciation expense Payment of income taxes Collection of dividend revenue Payment of salaries and wages Cash sales Loss on sale of capital assets Proceeds from issuance of shares Acquisition of equipment Net income Collections of accounts receivable Cash balance: December 31, 2018 Cash balance: December 31, 2019 $ 31,000 55,000 $ $ 84.000 $ 73,500 $ 45,000 $ 36,200 Assignment #6 Chapters 10 & 11 Question 1 Mighty Ltd. is reporting the following for December 31, 2019. Prepare the cash flow statement for December 31, 2019 using the indirect method, under ASPE. Include a schedule of noncash investing and financing activities, if necessary. $ $ $ 150,000 5,000 52.000 190,000 5.000 $ $ $ $ $ 116,000 300,000 10.000 12,500 53,000 $ $ $ 20.000 Collections on accounts receivable Decrease in accounts receivable Depreciation expense Bonds payable converted into common shares Decrease in prepaid expenses Payments to suppliers Acquisition of equipment by issuing non-current note payable Increase in accounts payable Gain on sale of investments Long Term Debt payments Decrease in accrued liabilities Proceeds from issuance of common shares Increase in inventory Payment of cash dividends income tax expense Cash sales Loss on sale of capital assets Proceeds from sale of capital assets Loan to another company Cash payments to purchase capital assets Net income Collection of long-term loan receivables Proceeds from sale of investments Cash balance December 31, 2018 Cash balance: December 31, 2019 GREECE $ 51,000 8,200 $ 20,000 $ 22,500 90,000 $ $ 8,200 $ 40.000 $ 38.000 3 86,000 $ $ $ 135,000 22,000 48,000 38,000 176,500 5 $