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LLL The below Information is extracted from Bee Holdings Inc's financial statements for 2019 Balance Sheet 2010 2018 Sat December 31, 2019 (U85) (USS) Cash
LLL The below Information is extracted from Bee Holdings Inc's financial statements for 2019 Balance Sheet 2010 2018 Sat December 31, 2019 (U85) (USS) Cash 27.500 24,000 Accounts Receivable 44.500 42,000 Inventory 36,000 39,000 Property, plant and equipment 197.000 165,000 Less: Accumulated depreciation (97,500) (88,500 207,500 181,500 Bank loan 36,000 50,000 Accounts payable 25,000 32.000 Taxes payable 13,000 11,000 Share capital & premium 78,000 60,000 Retained earnings 55,500 28.500 207.500 181,500 Income Statement for the Year Ended December 31, 2017 Sales Costs of goods, sold Operating expenses Operating profit Depreciation Loss on sale of equipment Profit before action Tax expense Net Income 2019 (US$) 375,000 209,000) 98,000) 68,000 (22,000) (1.000 45,000 (13,500 31,500 Additional data: 1. Repaid a bank loan for an amount of $14,000 2. Bought equipment for cash, $48,000 3. Issue new shares for $18,000 4. Declared and paid a dividend of $4,500. 5. Sold equipment with an original cost of $16,000 and accumulated depreciation of $13,000, for $2.000 Required: Prepare the statement of cash flows for the year ended December 31, 2019
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