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Prepare a complete statement of cash flow for October 2021 using the indirect method based on the information provided. Sign Language Hearing Co Ltd Comparative
Prepare a complete statement of cash flow for October 2021 using the indirect method based on the information provided.
Sign Language Hearing Co Ltd Comparative Balance Sheet October 31, 2020, and 2021 2021 2020 450,000 350.000 440,850 225,222 185,000 668,500 1,869,572 315,898 185,000 495,880 1,446,778 Assets Cash and cash equivalent Accounts Receivable Inventory Prepaid expenses Equipment, net Total Assets Liabilities Accounts payable Accrued liabilities Bond payable Stockholders' Equity: Common Stock Retained earnings Treasury stock Total liabilities and stockholders' equity 225.550 555,840 198,500 190.545 365,520 245,600 1,037,582 (195,000) 1,869,572 145,600 711,613 (165,000) 1.446.778 1,528,000 Sign Language Hearing Co Ltd Income Statement Year Ended October 31,2021 Revenues and gains: Sales revenue 1,500,000 Gain on sale of equipment 28,000 Interest revenue Total revenues and gains Expenses Cost of goods sold 704,500 Salary expense 185,000 Depreciation expense 40,000 Rent expense 200,000 Total expenses Income before income taxes Income tax expense Net Profit 1,129,500 398,500 44,500 354,000 I Notes Purchase of equipment Cash receipt from sale of equipment Issuance of bonds payable to borrow cash Cash receipt from issuance of common stock Dividend paid Book value of equipment sold Purchase of treasury stock 337,620 153,000 190,320 100,000 28,031 125,000 30,000
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