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QUESTION 4 (15 marks) 2019 R345 000 Income Statement Sales Expenses Cost of Goods Sold Operating Expenses R120 000 58 000 Lesedi Company (Pty) Ltd.'s
QUESTION 4 (15 marks) 2019 R345 000 Income Statement Sales Expenses Cost of Goods Sold Operating Expenses R120 000 58 000 Lesedi Company (Pty) Ltd.'s balance sheets for the last two years are provided below + Balance Sheet 2019 2018 Cash R 82 000 R 40 000 Accounts Receivable 180 000 150 000 Inventory 170 000 200 000 Equipment 200 000 140 000 Accum. Depreciation (72 000 (60 000 Total Assets R560 000 R470 000 20 000 Depreciation Expense Interest Expense 2000 Operating Income Gain on Sale-- Equipment 200 000 145 000 5 000 Accounts Payable Long-term Payables Ordinary Shares Retained Earnings Total Liabilities & R100 000 R 80 000 100 000 50 000 250 000 250 000 110 000 90 000 0 Income before Taxes Tax Expense Net Income/profit 150 000 30 000 R120.000 Shareholders' Equity R560 000 R470 000 *The company sold equipment for R57 000 that had a cost of R60 000 The company's income statement for 2019 is provided below: Required: Prepare the company's Statement of Cash flow for 2019. Use the direct method for calculating the cash flows from operating activities. (15)
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