ITC India Limited has recently published the following income statement and comparative balance sheet for 2019 and 2018. Prepare the cash flow statement for the year ended December 31, 2019 using indirect method Marks will be awarded only if the proper format of the statement of cash flows is used [13] ITC India Limited Income Statement, Year Ended December 31, 2019 Revenue from sales 286,000 Interest revenue 12.000 Dividend revenue 9,000 Gain on sale of plant assets 10.000 Total revenue and gains 377.000 Cost of goods sold 156,000 Wage expense 36,000 Depreciation expense 20,000 Other operating espese 13,000 Interest expense 15.000 ITC India Limited Balance sheet: December 31, 2019 and 2018 Assets 2019 2018 Liabilities 2019 2018 Cash and cash equivalents 22.000 42,000 Current Account receivable 90.000 175.000 Accounts payable 90,000 50.000 Inventory 143.000 145.000 Accrued liabilities 5.000 10,000 Total current assets 1255000 || 1260000 Long-term liabilities Plant assets, net 460,000 210.000 Ndes payable 160.000 80,000 Stockholders' Equity Common stock 370,000 250,000 Retained earnings 110,000 Treasury stock 120,000) 0 Total Assets 715.000|| 470,000 Total liabilities and 715000 470000 stockholdas equity The details of the transactions carried out by the company Purchase of treasuy stock and issulke of common stock for cash Purchase of plant assets for cash R5310000 Cash receipts from sale of plant Gash Teceipts fren assets (bool value 40.000 R$ 50,000: Payments of dividend Rs 10 000 (1) WhatsApp C Get Homework Help With Che x AUS 72/0 (11.2) (Aaron Finch web.whatsapp.com Question No: 02 ITC India Limited has recently published the following income statement and comparative balance sheet for 2019 and 2018 Prepare the cash flow statement for the year ended December 31, 2019 using indirect method Marks will be awarded only if the proper format of the statement of cash flows is used [13] ITC India Limited Income Statement, Year Ended December 31, 2019 Revenue from sales 286,000 Interest revenue 12,000 Dividend revenue 9.000 Gain on sale of plant assets 10,000 Total revenue and gains 377,000 Cost of goods sold 156,000 Wage expense 56,000 Depreciation expense 20,000 Other operating expense 16,000 Interest expense 15,000 Income tax expense 14.000 Total Operating expense 227000 Net Income 0.000 ITC India Limited Balance sheet: December 31, 2019 and 2018 Assets 2019 2018 Liabilities 2019 2018 Cashi and cash equivalents 22.000 42.000 Current Account receivable 90.000 73.000 Accounts pavable 90.000 50,000 Inventory 143,000 145,000 Accrued Liabilities 5.000 10.000 Total current assets 285000 260000 Long term liabilities Plant assets.net 400,000 210 000 Notes pavable 160.000 80.000 Stockholders' Equity Common stock 1370,000 1950,000 Retained earnings 110,000 $0,000 Treasury stock 20.000 0 Total Assets 715 000 470,000 Total liabil ses and 715000 470000 stockholders equity The details of the Cransactions carried out by the company Purchase of treasury stock and issualice of common stock for cash Purchase of plant assets for cash R: 310000 Cash receipts from sale of plant assets (book value 40.000) Rs 50 000 Payments of dividend Rs 10 000 Cash receipts from Issuance of notes payable R: 90.000 Clash Payment of notes payable Rs10 000
