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How do I calculate the Cash Flows from Investing activities? METRO MEATS LTD Statement of Financial Position as at 31 December Assets 2015 Cash $
How do I calculate the Cash Flows from Investing activities?
METRO MEATS LTD Statement of Financial Position as at 31 December Assets 2015 Cash $ 29,000 $ Accounts receivable 28,000 nventories 25,000 Property, plant & equipment 60,000 Accumulated depreciation (20,000) Total $ 122,000 $ Liabilities and equity Accounts payable $ 26,000 $ Dividends payable 3,000 ncome tax payable 5,000 Debentures payable 27,000 Share capital 18,000 Retained earnings 43,000 Total $ 122,000 $ 2014 15,000 14,000 35,000 78,000 (24,000) 118,000 METRO MEATS LTD P&L statement for 2015 Sales revenue $ 250,000 Cost of sales 210,000 Gross profit 40,000 Less: Selling expenses $ 18,000 Administrative expenses 6,000 Interest 2,000 Income taxes 4,000 Profit $ 10,000 30,000 25,000 8,000 33,000 14,000 38,000 118,000 Additional information: 1. Metro paid a $2,000 interim dividend & declared a final dividend. 2. Equipment sold for $8,500 cash, original cost of $18,000 and carrying value of $8,500 at the time of sale. 3. All depreciation expense is in the selling expense category. 4. All operating expenses except for depreciation paid in cash. Required: Complete the statement of cash flows for 2015 below. METRO MEATS Ltd Statement of Cash Flows for the year ended 31 December 2015 Cash flows from operating activities: USE CELL REFERENCES FOR $ VALUE ENTRIES. Cash receipts from customers $ 236,000 Cash payments: To suppliers $ 199,000 For income taxes 7,000 For interest 8,000 For other / operating expenses S 214,000 Net cash provided by operating activities 22,000 Cash flows from investing activities: Sale of plant and equipment Select from drop-down menu 1 S value S valueStep by Step Solution
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