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Q.5 Total Marks 10 Condensed financial data of Argo Vista Company for 2019 and 20 are presented below Agro Vista Company Comparative statement of Financial

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Q.5 Total Marks 10 Condensed financial data of Argo Vista Company for 2019 and 20 are presented below Agro Vista Company Comparative statement of Financial Position As of December 31 2019, and 2020 2020 2019 Plant assets $ 19,000 S 17,000 Accumulated depreciation (12,000) (11,700) Debt investment held for collection) 13,000 14,700 Inventory 16,000 19,000 Receivables 17,500 13,000 Cash 18.000 11.000 $ 71,500 S 63.000 Share capital-ordinary 19,000 $ 17,000 Retained carnings 24,500 19,000 Bonds payable 14,000 16,500 Accounts payable 12,000 8,000 Accrued liabilities 2.000 2.500 s 71,500 S 63.000 Agro Vista Company Income Statement For the year ended December 31, 2020 Sales $ 69,000 Cost of goods sold 47.000 Gross margin 22.000 Selling and administrative expenses 9.300 Income from operations 12,700 Other income and expense: Gain on sale of investments Income before tax Income tax expense Net Income 800 13,500 5,400 8.100 $ Additional information: During the year, S 700 ordinary issues were issued in exchange for plant assets. No plant assets were sold in 2018. Cash dividends were SR 2,600 Required: Prepare a statement of cash flows for 2020 using indirect method

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