HOMEWORK (15%) HOMEWORK (15%) Question 1. The comparative statements of financial position of Brown Inc. for 2018 and 2019 appear as follows (100 points) ) Prepare an income Statement for 2019. See chapter 4) (30 points) by Using Information from the comparative Statements of Financial Position and Income Statement prepare a statement of Cash Flows for 2019. (See Chapter 5) (50 points) c) Explain in your own words the steps that you followed to prepare the Operating section of the Statement of Cash Flows. (20 points) 2019 234,000 Assets Buildings Land Less: Accumulated depreciation-Buildings Inventory Accounts receivable Cash Total (100.000) 16000 546,000 270,000 954,000 2018 132,000 90,000 155,000) 18,000 528,000 78,000 780,000 Equity and abilities Share capital-ordinary Retained earnings Accounts payable Total 600.000 228,000 136.000 964.000 550,000 122,000 108,000 780,000 Below is elven additional information related to revenues. expenses and dividends for year Sales revenue Sales discounts Gain from sale of Land Cost of goods sold Delivery expenses Depreciation of Office Buildings Advertising Expenses Other Administrative expenses Interest expense Sales returns and allowances Cash dividends paid on ordinary shares 600,000 17.000 40,000 300,000 20.000 36,000 15.000 33,500 20.000 65.000 27,500