PLEASE USE INITIAL S!! THANK YOU

Financial info to be used by surnames with initials (S, W, G, Z) Simple Things Industries Ltd. Comparative Balance Sheet December 31, 2014 and 2013 2014 2013 Increase/(Decrease 175,000 230,000 310,000 30,000 105,000 860,000 1,710,000 15,000 220,000 340,000 10,000 105,000 830,000 1,520,000 ? ? ? ? ? Assets Cash Accounts Receivable Inventories Prepaid expenses Intangible assets Equipment, net Total Assets Liabilities Accounts payable Accrued liabilities Income tax payable Long-term notes payable Stockholders' Equity Common Stock Retained earnings Treasury stock Total liabilities and stockholders' equity 90,000 190,000 120,000 360,000 140,000 160,000 140,000 450,000 ? ? ? ? ? ? 400,000 640,000 (90,000) 1.710.000 250,000 400,000 (20,000) 1.520.000 1.900,000 20,000 1.920,000 Simple Things Industries Ltd Income Statement Year Ended December 31,2014 Revenues and gains Sales revenge Gain on sale of equipment Total revenues and gains Expenses Cost of goods sold Depreciation expense Other operating expense Total expenses Income before income taxes Income tax expense Net Income Notes Acquisition of plant asset during 2014 Sale proceed from sale of equipment Receipt for issuance of notes payable Payment for note payable Dividend paid Book value of equipment sold 850,000 190,000 360,000 1,400,000 520,000 180,000 340,000 320,000 120,000 10,000 100,000 100,000 100,000 Requirements 1. Reconstruct the company's comparative balance sheet for 2013/2014 using the information in line with your surname initial and compute and show the missing figures to include the appropriate sign as a positive or negative figure. 2. Which category of the statement of cash flow is considered as the most important? Why? 3. Prepare a complete statement of cash flows for 2014 using the indirect method using the Information in line with your surname