ON THE BASIS OF THE FOLLOWING DATA FOR BRANCH CO. FOR THE CURRENT AND PRECEDING YEARS ENDED DECEMBER 31, PREPARE A STATEMENT OF CASH FLOWS USING THE INDIRECT METHOD. ASSUME EQUIPMENT WAS PURCHASED, ON CASH COSTING 100,000 LAND WAS SOLD FOR 12,000 NET INCOME EARNED IN CURRENT YEAR 44800 DIVIDENDS DECLARED AND EARNED 14400 STOCK WAS ISSUED FOR CASH

04) (20 MARKS) ON THE BASIS OF THE FOLLOWING DATA FOR BRANCH CO. FOR THE CURRENT AND PRECEDING YEARS ENDED DECEMBER 31, PREPARE A STATEMENT OF CASH FLOWS USING THE INDIRECT METHOD. ASSUME EQUIPMENT WAS PURCHASED, ON CASH COSTING LAND WAS SOLD FOR 100,000 12.000 NET INCOME LANED IN CURRENT YEAR 44800 DIVIDENDS DECLARED AND EARNED 14400 STOCK WAS SED POR CASTI BALANCE NIKET PRIOR YEAR CURRENT YEAR 52000 43200 62400 5200 72000 CASH ACCOUNTS RECEIVABLE (NET) INVENTORIES LAND EQUIPMENT ACCUMULATED DEPRECIATION 0 396000 16000 29600 -122000 12600 42100 44000 16000 ACCOUNTS PAYARIK (MERCHANDISE CREDITORS) COMMON STOCK, $10 PAR PAID-IN CAPITAL IN EXCESS OF PAR-COMMON STOCK RETAINED EARNINGS 136000 48000 1400 171200 E