d. Cash dividends declared and paid, RM25,000. Required: Prepare: 1. Statement of Cash Flows for Broadfields Sdn. Bhd. for the year ended December 31, 2019 using the indirect method. (16 marks) 2. Evaluate on the cash position (3 points) of Broadfields Sdn. Bhd for the year 2019. (4 marks) (Total: 20 Marks) PART B - QUESTION 2 Broadfields Sdn. Bhd., a private company, closes its accounts on December 31 every year. The company reported the following Statement of Financial Position at, December 31, 2019: 2019 RM 572.800 (142,000) Equipment Accumulated depreciation - equipment Long-term investments Inventories Accounts receivable, net Cash and cash equivalent Total assets 2018 RM 450,000 (176,000) 70.000 100.000 48.000 50.000 542.000 108,500 37.000 53.400 629.700 Ordinary share capital Retained earnings 405.000 162.200 567,200 Bonds payable, due 2024 Accounts payable Total liabilities + Total equity 340,000 58,200 398,200 100,000 43.800 542.000 62.500 629,700 The Statement of Profit or Loss for 2019 is as follows: Sales revenue Cost of sales Gross profit Other income: Gain on sale of investment Other expense: Loss on sale of equipment Depreciation expense Other operating expense 2019 RM 625,700 (340,000) 285,700 4,000 (800) (26,000) (68,000) 194,900 (6,000) 188,900 (60,700) 128.200 Finance costs Income tax expense Profit for the year Additional information for the current year 2019 were as follows: a. A piece of equipment having a book value of RM1.200 was sold for RM400. A new equipment was purchased for RM183.200. b. Bonds payable for RM100,000 were redeemed at the face amount. c. 5,000 ordinary shares were issued at RM13 per share for cash. d. Cash dividends declared and paid, RM25,000. Required: Prepare: 1. Statement of Cash Flows for Broadfields Sdn. Bhd. for the year ended December 31, 2019 using the indirect method. (16 marks) 2. Evaluate on the cash position (3 points) of Broadfields Sdn. Bhd for the year 2019. (4 marks) (Total: 20 Marks) PART B - QUESTION 2 Broadfields Sdn. Bhd., a private company, closes its accounts on December 31 every year. The company reported the following Statement of Financial Position at, December 31, 2019: 2019 RM 572.800 (142,000) Equipment Accumulated depreciation - equipment Long-term investments Inventories Accounts receivable, net Cash and cash equivalent Total assets 2018 RM 450,000 (176,000) 70.000 100.000 48.000 50.000 542.000 108,500 37.000 53.400 629.700 Ordinary share capital Retained earnings 405.000 162.200 567,200 Bonds payable, due 2024 Accounts payable Total liabilities + Total equity 340,000 58,200 398,200 100,000 43.800 542.000 62.500 629,700 The Statement of Profit or Loss for 2019 is as follows: Sales revenue Cost of sales Gross profit Other income: Gain on sale of investment Other expense: Loss on sale of equipment Depreciation expense Other operating expense 2019 RM 625,700 (340,000) 285,700 4,000 (800) (26,000) (68,000) 194,900 (6,000) 188,900 (60,700) 128.200 Finance costs Income tax expense Profit for the year Additional information for the current year 2019 were as follows: a. A piece of equipment having a book value of RM1.200 was sold for RM400. A new equipment was purchased for RM183.200. b. Bonds payable for RM100,000 were redeemed at the face amount. c. 5,000 ordinary shares were issued at RM13 per share for cash