CORRECT ANSWER NEEDED ASAP! THANK YOU
The statements of comprehensive income, financial position and supplementary information for Felix Company are given below. Felix Company Statement of Comprehensive Income (000's) for the year ended December 31, 20x6 Sales revenue $ 26,000 Cost of goods sold 14,200 Depreciation expense 1,600 Wages and salaries expense 3,800 Operating expense 2,600 330 Interest expense Loss on sale of PPE 120 Income tax expense 1.100 18.500 Net income 2,250 Other comprehensive income Loss on FV.OCI Investments 85 Total Comprehensive income $2,165 Felix Company Comparative Balance Sheet (000's) December 31, 20x6 20x6 20x5 Cash $ 6,000 $ 4,400 9,400 10,600 Accounts receivable Inventory 6,040 4,000 960 520 1,200 800 Prepaid insurance FV*OCI Investments Plant and equipment Accumulated depreciation 32,400 32,000 -6,400 -8,000 Land 32,440 16,040 $80,000 $62,400 $ 4,360 $ 4,000 365 740 Accounts payable Wages payable Dividends payable Long-term notes payable 560 10,400 8,000 Common shares 54,400 40,000 Retained earnings 10,000 9,600 Accumulated OCI - FV-OCI Investments (85) 60 $80,000 $62,400 Additional Information - Equipment costing $5,000 was acquired by issuing an interest-bearing long-term note for the full amount. Equipment whose original cost was $4,900 was sold during the year One FV.OCl investment was sold for $325 during the year. This investment's original cost was $265 and had a carrying value of $300 at the end of 2015. Several FV-OCl investments were purchased during the year. Required - Prepare the following components of the Statement of Cash Flow for the year ended December 31, 20x6: Cash flow from operations (direct method) Cash flow from investing (Hint: analyze the FV-OCl investment and Accumulated OCI accounts.) The statements of comprehensive income, financial position and supplementary information for Felix Company are given below. Felix Company Statement of Comprehensive Income (000's) for the year ended December 31, 20x6 Sales revenue $ 26,000 Cost of goods sold 14,200 Depreciation expense 1,600 Wages and salaries expense 3,800 Operating expense 2,600 330 Interest expense Loss on sale of PPE 120 Income tax expense 1.100 18.500 Net income 2,250 Other comprehensive income Loss on FV.OCI Investments 85 Total Comprehensive income $2,165 Felix Company Comparative Balance Sheet (000's) December 31, 20x6 20x6 20x5 Cash $ 6,000 $ 4,400 9,400 10,600 Accounts receivable Inventory 6,040 4,000 960 520 1,200 800 Prepaid insurance FV*OCI Investments Plant and equipment Accumulated depreciation 32,400 32,000 -6,400 -8,000 Land 32,440 16,040 $80,000 $62,400 $ 4,360 $ 4,000 365 740 Accounts payable Wages payable Dividends payable Long-term notes payable 560 10,400 8,000 Common shares 54,400 40,000 Retained earnings 10,000 9,600 Accumulated OCI - FV-OCI Investments (85) 60 $80,000 $62,400 Additional Information - Equipment costing $5,000 was acquired by issuing an interest-bearing long-term note for the full amount. Equipment whose original cost was $4,900 was sold during the year One FV.OCl investment was sold for $325 during the year. This investment's original cost was $265 and had a carrying value of $300 at the end of 2015. Several FV-OCl investments were purchased during the year. Required - Prepare the following components of the Statement of Cash Flow for the year ended December 31, 20x6: Cash flow from operations (direct method) Cash flow from investing (Hint: analyze the FV-OCl investment and Accumulated OCI accounts.)
