lance sheet of N ment.) BEB ( investing transa Income Statement e indirect metho For the Year Ended July 31, 2020 Revenues Sales revenue atement by the in Interest revenue gn Ltd. Statement Total revenues $ 265,000 25,000 290,000 Expenses d July 31, 2020 Cost of goods sold 80,000 Salaries expense 39,000 Amortization expense 4,600 e Other operating expenses 12,000 Interest expense 32,000 35,000 Income tax expense 202,600 Total expenses 87,400 continue to the r Net income Print Done - X es payable. parative balan me statement ancing and inv ment by the in mpany. i Balance Sheet New Design Ltd. Balance Sheet July 31, 2020 and 2019 - X - quipment, and no iss 2020 ash flow statem 2019 cted.) Current assets New Design L Cash and cash equivalents ST 7,400 $ 7,900 ash Flow State Accounts receivable 49,000 44,000 Year Ended Ju Interest receivable 2,500 700 ities Inventory 43,000 73,000 Prepaid expenses 4,300 3,600 net income Plant and equipment, net 67,000 63,000 121,000 64,000 Land 294,200 $256,200 Total assets able Current liabilities le s and then conti Print Done omparative balan come statement financing and inv atement by the in company. cash flow statem New Design L Balance Sheet Land Total assets Current liabilities Accounts payable Interest payable Salaries payable Cash Flow State me Year Ended Jul Civities Other accrued liabilities Income tax payable Long-term liabilities - X 64,000 quipment, and 121,000 $ 294,200 $ 256,200 57 43,000 $ 40,400 cted.) 4,800 5,300 4,500 7,400 13,700 20,000 9,300 8,300 Notes payable 80,000 110,000 ect net income Shareholders' equity N Common shares 70,000 34,700 68,900 30,100 wable ble Retained earnings Total liabilities and shareholders' equity $ 294,200 256,200 ds and then conti Print Done This Question: 22 pts 13 of 25 (1 completo) The 2020 income statement and comparative balance sheet of New Design Ltd. follow: (Click the icon to view the income statement.) Click the icon to view the balance sheet.) New Design Ltd. had no non-cash financing and investing transactions during 2020. During the year, there were no sales of land or plant and equipment, and no issuances of notes payab Required 1. Prepare the 2020 cash flow statement by the indirect method. 2. Evaluate the cash flow for this company. New Design Ltd. Cash Flow Statement For the Year Ended July 31, 2020 Cash flows from operating activities Net income Add (subtract) items that affect net income and cash flow differently Amortization expense Increase in accounts receivable Increase in interest receivable Decrease in inventory Increase in prepaid expenses I Enter any number in the edit fields and then continue to the next question. a ASUS The 2020 income statement and comparative balance sheet of New Design Ltd. follow: (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) New Design Ltd. had no non-cash financing and investing transactions during 2020. During the year, there were no sales o Required 1. Prepare the 2020 cash flow statement by the indirect method. 2. Evaluate the cash flow for this company. Increase in accounts payable Decrease in interest payable Decrease in salaries payable Decrease in other accrued liabilities I Increase in income tax payable Net cash inflow from operating activities Cash flows from investing activities Acquisition of land Acquisition of equipment Net cash outflow from investing activities Cash flows from financing activities Payment of dividends Enter any number in the edit fields and then continue to the next question. C he 2020 income statement and comparative balance sheet of New Design Ltd. follow: (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) New Design Ltd. had no non-cash financing and investing transactions during 2020. During the year, there were no sales of land or plant and equipment, and no issuances o Required 1. Prepare the 2020 cash flow statement by the indirect method. 2. Evaluate the cash flow for this company. Cash flows from financing activities Payment of dividends Payment of notes payable Issuance of common shares Net cash outflow from financing activities Net increase (decrease) in cash Cash and cash equivalents, August 1, 2019 Cash and cash equivalents, July 31, 2020 H Requirement 2. Evaluate the cash flow for this company. New Design Ltd.'s 2020 cash flows are New Design Ltd. is investing in overall. Operations provided cash flows, which is the source of cash for a healthy company and All are signs Enter any number in the odit fields and then continue to the next