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i) prepare a statement of cash flows for 2016 PQR Company Income Statement For the year ended December 31, 2016 Taka 600000 2500 602500 500000
i) prepare a statement of cash flows for 2016
PQR Company Income Statement For the year ended December 31, 2016 Taka 600000 2500 602500 500000 102500 Revenue Sales Gain on sale of plant assets Total revenue Less: Cost of goods sold Gross Profit Less: Operating expenses (excluding depreciation) Depreciation expenses Interest expense Income tax expense (60000) (7500) (5000) (9000) Net Income 21000 Balance Sheet December 31 2016 2015 25000 22000 20000 15000 40000 210000 (55000) 11000 33000 29000 13000 40000 225000 (67500) Assets Cash Accounts Receivable Merchandise Inventory Prepaid expense Land Property, plant and equipment Less: Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Accrued Expense Payable Interest Payable Income taxes payable Bonds Payable (long term) Common stock Retained Earning 277000 283500 11000 9500 1000 3000 50000 125000 77500 18500 7500 1500 2000 80000 105000 69000 Total 277000 283500 Additional Information: Plant assets were sold at a sales price of Tk. 37500 Addition Equipment was purchased at a cost of lk. 40000 Bonds were redeemed at a face value Additional shares of stock were issued for cash. Requirements: i) Prepare a statement of cash flows for 2016. M sStep by Step Solution
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