Question 1 of 1 View Policies Current Attempt in Progress Here is a comparative statements of financial position for Thorpes Tubing Pty Ltd: THORPES TUBING PTY LTD Comparative statements of financial position 30 June 2017 30 June 2016 Assets Cash at bank $60 000 $22000 Accounts receivable 85000 76 000 Inventory 180 000 189 000 Land 75 000 100 000 Equipment 260 000 200 000 Accumulated depreciation (66 000) (42000) $594000 $545 000 Liabilities and equity Arcountelo 200 7 Liabilities and equity $34000 $47 000 150 000 200 000 Accounts payable Notes payable (long term) Share capital Retained earnings 214000 164 000 196 000 134000 $594000 $545 000 Additional information: 1. Profit for 2017 was $105 000. Total expenses were $873000 and included cost of sales expense $528 000, interest paid $15000. tax expense $45 000, depreciation $24000 and other operating expenses $261 000. 2. Cash dividends of $43 000 were declared and paid. 3. Notes payable amounting to $50 000 were redeemed for cash $50 000. 4. Ordinary shares were issued for $50 000 cash. 5. Sales for 2017 were $978 000. 6. Land was sold at cost. Complete the statement of cash flows for 2017 using the direct method. (If an amount in the investing or financing sections decreases cash flow, then show it with a negative (-) sign preceding the number, le-14 500. It is not necessary to use negatives for the operating section. For multiple items list with highest positive numbers first followed by highest negative numbers.) THORPES TUBING PTY LTD Cash Flow Statement For the Year Ended 31 December 2017 Question 1 of 1 Cash flows from operating activities S Cash receipts from customers Cash payments: V $ V V Net cash by operating activities Cash flows from investing activities Net cash by investing activities Ghostram financing activities V Net cash by financing activities Net V In cash Cash at beginning of period Cash at end of period Gotham c Cash at beginning of period Cash at end of period Compute these cash-basis ratios: (Round each answer to 2 decimal places.) (1) Current cash debt coverage. times times (2) Cash debt coverage. Save for Later O CE here to search 21