Question 1 of 4 HARLEY HOLDINGS LTD. Statement of Financial Position As at January 31 2020 2019 Assets Current assets: Cash $37,000 $27,010 Accounts receivable 64,230 40.700 Inventory 70,740 75,260 Total current assets 171,970 142,970 Equipment 129,500 107,300 Accumulated depreciation, equipment (32,190) (28,860) Land 88.800 125,800 $358,080 $347.210 Liabilities and shareholders' equity Current liabilities: Accounts payable Dividends payable $33.520 $46,030 9.620 3.700 Total current liabilities 43,140 49.730 43,140 49,730 Total current liabilities 74,000 103,600 Bank loan payable 111,000 96,200 Common shares 129,940 97,680 Retained earnings $358,080 $347,210 HARLEY HOLDINGS LTD. Statement of Income For the year ended January 31, 2020 Sales revenue Cost of goods sold Gross profit Expenses $321,900 218,300 103,600 $11.250 Wages expense Depreciation expense Rent expense 19,610 11,170 Income tax expense 10.880 52,910 Operation income Calmon.com 50,690 7240 c Additional information: 1. Equipment costing $25,900 was sold for $10,360. 2. Land was sold at cost and none was purchased during the year. (91) Using the above information, prepare the statement of cash flows for Harley using indirect method. (Show amounts that decrease cash flow with either a-sign eg. HARLEY HOLDINGS LTD. Statement of Cash Flows, Indirect Method For the Year Ended January 31, 2020 $ c G Search or type IRI Question 1 of 4 III G Search or type URL 2 N 3 4