Q1. a) Tasadaq Ltd Corporation most recent comparative balance sheet is as follows: Assets Ending $ Beginning Liabilities Ending Beginning $ $ $ Cash 7000 12000 Accounts payable 9000 28000 Accounts receivable net 11000 2000 Dividend payable 5000 2000 Merchandise inventory 39000 24000 Notes payable 16000 10000 Long-term investments 23000 9000 Common stock 42000 30000 Equipments 83000 100000 Retained earnings 25000 15000 Accumulated depreciation (66000) (62000) 97000 85000 97000 85000 Tasadaq net income was $30000. No direct exchange transactions occurred at Tasadaq during the year. No equipment was purchased. There was a Loss of $1000 when equipment was sold. The accumulated depreciation on the equipment it sold was $12000. Cash dividend of $20000 were declared during the year. Tasadaq uses the indirect method to prepare its statement of cash flows.