Question
Hills Inc. Consolidated statement of comprehensive income for the period ended 20X2 Sales 30,650 Cost of sales ( 26,000) ' (a) The entity did not
Hills Inc. Consolidated statement of comprehensive income for the period ended 20X2 Sales 30,650 Cost of sales ( 26,000) ' (a) The entity did not recognize any components of other comprehensive income in the period ended 20X2 Hills Inc. Consolidated statement of financial position as at end of 20X2 Assets Cash and cash equivalents Accounts receivable Inventory Portfolio investments Property, plant and equipment net Total assets 20Xl 230 1,900 1,000 2,500 2,280 7,910 20X2 160 1,200 1,950 2,500 850 6,660 Liabilities Trade payables 250 1,890 Interest payable 230 100 Income taxes payable 400 1,000 Long-term debt 2,300 1,040 Total liabilities 3,180 4,030 Shareholders' equity Share capital 1,500 Retained earnings Total shareholders' equity Total liabilities and shareholders' equity Note: Figures are in ($,000)
l.lt was found out that Hills proceeds from sale of equipment was 20,000 and they also received a dividend of 200,000 and Interest of 200,000.
Hill Inc paid lease liabilities of 90,000
Had proceeds from Long-term borrowings of 250,000.
250 trade payables include trade payables of 100 yet to be made.
In May of 20x2 they paid dividend of 1200 Required:
A. Prepare the Consolidated Cash Flow Statement for Hills Inc. using Indirect Method.
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