G H M 0 Marta WILL BE awarded for shower Change TAccounts SUPPORT fun Investments 38,000 5,700 C 7 As at December 31 8 9 ASSETS 2020 2019 10 Cash 11 Accounts Receivable (net) $ 5.000 $ 8.200 12 Inventory 28,300 25,600 13 Prepaid expenses 45,800 47.100 14 FV-NI investments 7,500 8,200 15 Land 43,700 38.000 16 389,000 Equipment 264.000 632,000 488,000 17 Accumulated depreciation equipment (303.4001 18 Patent (250,7001 35,000 19 TOTAL ASSETS $ 882,900 $ 528,600 20 21 LIABILITIES AND SHAREHOLDER'S EQUITY 22 Accounts payable S 18.800 $ 15,600 23 Dividends payable 12.500 8,500 24 Long-term notes payable 125,000 25 Deferred tax liability 5,820 7.200 26 Bank loan 50,000 27 TOTAL LIABILITIES 5 212,120 $ 31 300 28 SHAREHOLDER'S EQUITY 29 Common Shares S282,000 5 265,000 30 Retained Earnings 388,780 132,300 1 TOTAL SHAREHOLDERS FOUTY 57070 $59700 Cover Sheet Q1 02 03 04 05 06 PART AS PART OF $13.2001 2.700 (1.500 700) 5.200 125.000 144.000 152.700 35.000 5254.100 32,300 cuipments 500 5 3,200 4,000 125.000 (11 50.000 $ 180,820 + $ 17,000 56410 5. 712 Canon Mode Auto Workbook ~~ D K N 29 Custom O this for wing Office were to the printing you more conto your windows you to www.ba These are your F73 A B 8 SHAREHOLDER SECURY C G 1 1 29 Common Shares $ 282.000 30 Retained Earnings 5 265.000 17.000 388,780 332,300 56480 31 TOTAL SHAREHOLDERS' EQUITY $ 670,780 $ 597,300 $ 73.480 32 TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY $ 882.900 $ 628.600 $ 254.100 33 34 Other information for 2020: (1). New equipment was purchased in cash during 2020. In addition, equipment with an original cost of $48,000 and net book value of $12,000 was sold during the year at again of $3.000 35 36 37 (2) Land was purchased by issuing a long-term note for $125,000 39 39 0). Cash dividends were declared and pold in 2020. 40 (4). The change in the FV-Ni investments is from the change in the market value of the securities for the fiscal year 2020. There were no purchases or sales of these securities during the 2020 fiscal year 42 43 (5) Net Income for the year ended December 31, 2020 was $68,980 44 45 (6). Tulip purchased a new patent with an indefinite useful life (not amortired). 17). Tulip prepares its accounting records in focordance with IFRS and has adopted the policy of classifying dividends paid as financing activities and dividends received as investing activities 47 Search Option File Home Insert D Page Layout Formulas D View Hele Calibri BE Custom Turks for sing for made some of the you.myvos Pengthened to your F73 D H 1 M (7) Tulip prepares its accounting records in accordance with IFRS and has adopted the policy of classifying 47 dividends paid as financing activities and dividends received as investing activities 48 49 REQUIRED Using the space BELOW, prepare a statement of Cash Flows using the Indirect method for the year ended December 31, 2020 50 Select the appropriate time period, headers and subtotals of the statement using the drop-down boxes provided (highlighted in grem cello 51 T-Accounts have been provided above to support your response. Make sure to show al calculations! 53 Only the blue and green cells will be marked. It is suggested to cell reference as much as possible to avoid typos. 52 ARTB8%836 54 55 56 57 58 59 Tulip Co. Statement of Cash Flows For the year ended December 31, 2020 Operating actiwites NET INCOME for the year ended December 31, 2020 was $68,980. Non-cash adjustments 58.980 61
