Question
Given the following information for Quebec Incorporated prepare their statement of cash flows for December 31, 2020 using the indirect method. Also, Explain the process
Given the following information for Quebec Incorporated prepare their statement of cash flows for December 31, 2020 using the indirect method. Also, Explain the process of preparing Indirect Cashflow and specify the differences between Indirect and Direct Cashflow methods. 2020* 2019* Cash 300 270 Accounts receivable 85 80 Interest receivable 11 8 Inventory 100 95 Prepaid Expenses 32 10 Non-current - Note receivable 95 125 Property, plant and Equipment (Net of depreciation) 315 330 Accounts payable 40 20 Accrued liabilities 34 43 Common Shares 825 755 Retained Earnings 105 60 Net income 100 Depreciation expense 2 Gain on sale of property 1.5 * in 000s
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