I am in need of help for the first questions/requirement. If you could show me how to do it I would really appreciate it! :D

2102AFE Financial Accounting - Topic 9 Weekly Workshop Homework Questions 2102AFE Financial Accounting Weekly Workshop Homework Questions Topic 9 - Statement of Cash Flows I (Chapter 17) Hewitt Ltd manufactures golf clubs for professional golfers. Hewitt Ltd's balance sheets for the years ended 30 June 2015 and 2016 are presented below: Hewitt Ltd Balance Sheets as at 30 June 2016 2015 ASSETS Cash Accounts Receivable Provision for doubtful debts Property, plant and equipment Accumulated depreciation, Property, plant and equip Inventory Total Assets 960,000 360,000 (120,000) 1,560,000 (360,000) 920,000 3,320,000 600,000 (80,000) 1,200,000 (200,000) 520,000 2,040,000 LIABILITIES Bank Overdraf Accounts Payable Accrued Wages (Wages Payable) Provision for annual leave Loans Total Liabilities 600,000 200,000 80,000 600,000 1,480,000 400,000 600,000 160,000 120,000 1,280,000 Net Assets 1,840,000 760,000 Represented by: Shareholders' Funds Share Capital Asset Revaluation Reserve Retained Profits Total Shareholders' Funds 1,400,000 280,000 160,000 1,840,000 200,000 80,000 480,000 760,000 1 2102AFE Financial Accounting - Topic 9 Weekly Workshop Homework Questions The revenues and expenses of Hewitt Ltd for the year ended 30 June 2016 are as follows: Revenue Sales Interest (no interest receivable at year end) Gain on sale of property (had a carrying value of $100,000) $ 600,000 40,000 80,000 Expenses Cost of sales Doubtful debts expense Depreciation expense Wages expense Employee entitlement (annual leave) expense 400,000 80,000 200,000 200,000 160,000 Net Loss for the year (320,000) Additional information: Hewitt Ltd classifies interest expense payments as operating cash flows. Required: As part of the preparation for a Cash Flow Statement for Hewitt Ltd: (a) Calculate the amounts received from customers, paid to suppliers and paid to employees, for the year ended 30 June 2016. Show all workings. (b) Using the Proforma provided, set up a Cash Flow Statement for Hewitt Ltd, completing the cash balances at the beginning and end of the year, inserting the amounts calculated in (a), and listing in their correct category all the other items (without amounts) that will appear on the statement. 2 2102AFE Financial Accounting - Topic 9 Weekly Workshop Homework Questions Critical Thinking Question A senior financial executive for a large public company remarked to a stock market analyst: \"I don't know why you people worry so much about what is in our statement of cash flows. Managing cash flow is our responsibility as managers; it involves paying close attention to cash on a daily basis. Why don't you pay attention to our profit and just forget about cash flow? We'll look afer that!\" Required Respond to the executive's comments, stating reasons for your opinion. Use the AREA framework template provided. ANALYSE (50 words maximum) Identify the issue and why it matters; determine what you need to find out RESEARCH and Evaluate (500 words maximum) Gather relevant facts and evidence, sort all evidence, identify themes or issues, AND sort all evidence and weigh it up to start building a picture of what your Answer might be ANSWER (50 words maximum) Your opinion of the themes or issues you have identified, justified by the evidence you have gathered and evaluated 3