Q4) ( 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 Maria 62,500 7,500 EQUIPMENT WAS PURCHASED, ON CASH COSTING LAND WAS SOLD FOR NET INCOME EANED IN CURRENT YEAR DIVIDENDS DECLARED AND EARNED 28000 9000 STOCK WAS ISSUED FOR CASH BALANCE SHEET CURRENT YEAR PRIOR YEAR CASH 32500 27000 39000 42500 53250 45000 ACCOUNTS RECEIVABLE (NET) INVENTORIES LAND EQUIPMENT ACCUMULATED DEPRECIATION 0 10000 247500 185000 -107500 -79000 264750 230500 0 0 26750 27500 100000 85000 ACCOUNTS PAYABLE (MERCHANDISE CREDITORS) COMMON STOCK, $10 PAR PAID-IN CAPITAL IN EXCESS OF PARCOMMON STOCK RETAINED EARNINGS 31000 30000 107000 88000 264750 230500