EXERCISES: THE ADJUSTMENTS IN NON-CASH WORKING CAPITAL ACCOUNTS AND THE STATEMENT OF CASH FLOWS With the following financial statements, prepare the adjustments in non-cash working capital accounts statement, and the statement of cash flows. Statement of Income For the year ended December 31, 2013 Re Con of uln Grom prof Other income Con/expe Toul Profit before taxes Income tax expense Profit for the year (in $) 550,000 (200,000) 350,000 10,000 (210,000) 200,000 150,000 060,000 90,000 Statement of Changes in Equity For the year ended December 31 (in 5) 2013 2012 Retained Earnings Balance at beginning of year 210,000 210,000 Profit for the year 90,000 Dividends 70,000 Balance at end of year 230,000 210.000 Share Capital Balance at beginning of year 71,000 71,000 Shad Balance and of year 71,000 71.000 Statements of Financial Position As at December 31 2013 2012 Non-current assets Property, plant, and equipment 400,000 Accumulated depreciation 350,000 Property plant, and equipment, net (100,000) (65,000) 300,000 285,000 Current assets Scanned by CamScanner Learning Exeches 115 Trade receivables 250,000 231,000 200,000 Cash and cash equivalen 3,000 4300 Total current 553,000 434000 Total assets 853,000 719,000 Equity Share capital 71,000 71,000 Retained earning 230,000 210,000 Total equity 301,000 281,000 Liabilities Non-current liabilities Long-term borrowing 200,000 122,000 Current liabilities Trade and other payables 200,000 178,000 Accrued expe 32,000 38,000 Short-term borrowing 120,000 100,000 Total current liabilities 352,000 316,000