Please complete all required sections of the assignment. For the cash flow statement, please make sure it uses the indirect method.

Additional Data: 1. UofU Inc. declared $40,000 in dividends in 207. 2. Equipment (cost $100,000, accumulated depreciation was destroyed in tornado. 3. Temporary investments has a three-month term. 4. Goodwill was written down by $20,000 due to the impairment test. 5. Dividends paid are treated as a financing activity. 6. Cash paid for Interest and Income tax do not require a separate disclosure. these error's and include an opinion on the quality of SPI-W Inc.'s earnings reported in 2022 and 2023. Data Analytics: Let's Compare Instructions: Select two Canadian companies in the same industry of similar size, if possible. You may obtain the annual reports of the two companies by using the SEDAR database (Canadian Companies). You will need data for the last 5 years i.e. from 2018(19) to 2022(23). Analyze the statements of cash flows and income statements of the two companies selected to determine the five-year trend of net income and cash flow from operations of the two companies. Construct a table consisting of net income and operating cash flows for the 5 years for each company. (An example, see the posted data analytics resources, Exhibit 12-7A and 12-7B, page 259 of Bergevin (2002) operating income is not required). Use relevant graphics (e.g., use EXCEL to create bar charts or other visuals) to analyze and display visually the correlation between net income and cash flow from operations for each of the company visually (as in Exhibit 12-\& A and 12-7B of posted data analytics resource). Required: What conclusions can you draw from the above analysis about the quality of earnings of each of the two companies? What additional information or analysis is needed to obtain a more complete analysis of the quality of earnings of the two companies selected. Required: You ACCT 3520 student must prepare the cash flow statement for UofU Inc. for 20X3. Not all information may be relevant and there may be missing information that you will have to use your knowledge of financial statements in order to complete this task. Errors: Why Me? Wonka Inc. showed income before taxes for 2023 of $101,000; for 2022, it was $77,400. However, Oompa Loompa Chartered Accountants reported the following errors had been made: - Sales for 2022 included $38,200 that had been received in cash during 2022 , but for which the related products were delivered in 2023 . Title will not be passed to the purchaser until 2023. - Ending inventory on December 31,2022 , was understated by $8,640. December 31,2023 , ending inventory has not yet been adjusted to the Inventory account. Assume that Wonka's has a periodic inventory system and that no adjustment has been made to the opening balance of the Inventory account. - The bookkeeper, in recording interest expense for both 2022 and 2023 on bonds payable, made the following entry each year: Interest Expense Cash 15,000 15,000 The bonds have a face value of $250,000 and pay a stated interest rate of 6%. They were issued at a discount of $15,000 on January 1,2022 , to yield an effective interest rate of 7%. (Use the effective interest method.) - Ordinary repairs to equipment had been charged in error to the Equipment account during 2022 and 2023. In total, repairs in the amount of $8,500 in 2022 and $9,400 in 2023 were charged in this way. The company uses the declining balance method and applies a rate of 10% in determining its depreciation charges. - Assume that Wonka Inc. applies IFRS. The work has been assigned to you and you need to remember the steps, which should include preparing a schedule showing the calculation of corrected income before tax for 2022 and 2023 . Once this is completed, your next step is to prepare the journal entries for 2023. You can assume the books are still open and you can ignore income tax effects at this point. Finally, you need to also consider what an investor may think considering Cash Flow: Good or Bad