Question 1 Westover Motors Ltd. is reporting the following for December 31, 2019. Prepare the cash flow statement for December 31, 2019 using the indirect method, under ASPE. Include a schedule of noncash investing and financing activities, if necessary. Collections on accounts receivable Decrease in accounts receivable Depreciation expense Bonds payable converted into common shares Decrease in prepaid expenses Payments to suppliers Acquisition of equipment by issuing non-current note payable Increase in accounts payable Gain on sale of investments Long Term Debt payments Decrease in accrued liabilities Proceeds from issuance of common shares Increase in inventory Payment of cash dividends Income tax expense Cash sales Loss on sale of capital assets Proceeds from sale of capital assets Loan to another company Cash payments to purchase capital assets Net income Collection of long-term loan receivables Proceeds from sale of investments Cash balance: December 31, 2018 Cash balance: December 31, 2019 6 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 143,000 3,000 45,000 180.000 3.000 118,000 250,000 9,000 10,500 63,000 35,000 41,000 8.800 18,000 21,500 74,000 8,700 42,000 40.000 89,000 102,000 21.000 44,000 35.000 89.400 Comm 204 - Financial Accounting Assignment #6 Chapters 10 & 11 Due: Wednesday, December 4, 2019