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I dont know how to do it Question 4 (20 marks) The following are data taken from the records of Durand SpA. Debit Balances December

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Question 4 (20 marks) The following are data taken from the records of Durand SpA. Debit Balances December 31, 2020 December 31, 2019 Cash $ 15,000 $ 10,000 Current assets other than cash 85,000 58,000 Long-term investments 10,000 53,000 Plant assets 335,000 215,000 $445,000 $336,000 Credit Balances Accumulated depreciation $ 20,000 $ 40,000 Current liabilities 40,000 22,000 Bonds payable 75,000 -0- Share capital-ordinary 254,000 254,000 Retained earnings 56,000 20,000 $445,000 $336,000 Additional information: 1. Held-for-collection investments carried at a cost of $43,000 on December 31, 2019, were sold in 2020 for $34,000. The loss was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $60,000 and were 80% depreciated were sold during 2020 for $8,000. The loss was incorrectly charged directly to Retained Earnings. 3. Net income as reported on the income statement for the year was $59,000. 4. Dividends paid amounted to $10,000 5. Depreciation recorded for the year was $28,000. Required: Prepare a statement of cash flows for the year 2020 using the indirect method

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