CASHFLOW-INDIRECT-METHOD

YOU HAVE THE FOLLOWING FINANCIAL INFORMATION OF A CORPORATION:

• INCOME STATEMENT
• BALANCE SHEET
• R/E STATEMENT
• SELLING PROPERTY, PLANT, AND EQUIPMENT INFORMATION

USING THIS INFORMATION, PREPARE THE CASH FLOW STATEMENT OF THE CORPORATION

• INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2019

SALES REVENUE INTEREST REVENUE DIVIDEND REVENUE LOSS ON SALE OF PROPERTY, PLANT, AND EQUIPMENT TOTAL REVEN U ES EXPENSES COGS SALARIES AMORTIZATION OTHER OPERATING EXPENSES TOTAL OPERATING EXPENSES OPERATING INCOME INTEREST EXPENSE INCOME TAX EXPENSE NET INCOME 682 29 22 20 360 134 43 41 38 36 753 578 175 101 OPENING BALANCE PLUS NET INCOME LESS PAYMENT OF DIVIDENDS CLOSING BALANCE LONG-TERM DEBT OPENING BALANCE PLUS ISSUED LONG-TERM DEBT LESS PAYMENT OF LONG-TERM DEBT CLOSING BALANCE 208 101 268 185 226 384 COST 155 ACCUMULATED AMORT 25 BOOK VALUE 130 LOSS ON SALE OF PROPERTY, PLANT, AND EQUIPMENT 20 SELLING PRICE 110OPENING BALANCE 525 ACQUISITIONS 735 BOOK VALUE OF SOLD LTA -130 AMORTIZATION -43 CLOSING BALANCE 1087ASSETS CASH A/R I/R INVENTORY PREPAID EXPENSES LONG TERM RECEIVABLE FROM ANOTHER COMPANY PROPERTY,PLANT,AND EQUIPMENT NET OF AMORTIZATION TOTAL LIABILITIES CL A/P S/P A/L LONG-TERM DEBT EQUITY COMMON SHARES R/E TOTAL 2019 58 224 323 18 26 1087 1744 220 384 861 268 1744 2018 101 192 330 17 525 1168 137 12 185 619 208 1168