Question 4 (20 marks) Bill Sing's manager was not impressed with his work on the other question. Bill tried to find the answers on Chegg and Course Hero but was not successful. The boss really wants to fire Bill because of his lack of financial knowledge (he cheated throughout his studies), even though Bill Sing claims to have scored a 95% in Managerial Finance. As a sign of good faith, the boss gives Bill one more opportunity to prove himself. The following information was provided by the company Rotomac Inc. a. Prepare a statement of Comprehensive Income (both years) b. Prepare a Statement of Financial Position (both years) c. Calculate Operating Cashflow for the year 2020 d. Interest expense has decreased significantly in 2020. In a brief sentence or two explain why this may have occurred. e Depreciation expense has decreased significantly in 2020. In a brief sentence or two explain why this may have occurred. I Year 2019 12,731 7957 1,893 Depreciation Cost of Goods Other Expenses Interest Gross Sales Cash Accounts Receivable Sales Returns Short Term Notes Payable Long Term Debt Sales Discounts Net Fixed Assets Accounts Payable Prepaid Expenses Inventory Dividends 29,700 30 654 14,217 650 1,417 77.678 902 138 813 27 287 926 28 567 28 Year 2020 3,322 9,785 1648 1,552 33,878 31.450 19,225 1.791 1,739 49,393 2,326 108,546 30.030 1,667 30,576 28 Question 4 (20 marks) Bill Sing's manager was not impressed with his work on the other question. Bill tried to find the answers on Chegg and Course Hero but was not successful. The boss really wants to fire Bill because of his lack of financial knowledge (he cheated throughout his studies), even though Bill Sing claims to have scored a 95% in Managerial Finance. As a sign of good faith, the boss gives Bill one more opportunity to prove himself. The following information was provided by the company Rotomac Inc. a. Prepare a statement of Comprehensive Income (both years) b. Prepare a Statement of Financial Position (both years) c. Calculate Operating Cashflow for the year 2020 d. Interest expense has decreased significantly in 2020. In a brief sentence or two explain why this may have occurred. e Depreciation expense has decreased significantly in 2020. In a brief sentence or two explain why this may have occurred. I Year 2019 12,731 7957 1,893 Depreciation Cost of Goods Other Expenses Interest Gross Sales Cash Accounts Receivable Sales Returns Short Term Notes Payable Long Term Debt Sales Discounts Net Fixed Assets Accounts Payable Prepaid Expenses Inventory Dividends 29,700 30 654 14,217 650 1,417 77.678 902 138 813 27 287 926 28 567 28 Year 2020 3,322 9,785 1648 1,552 33,878 31.450 19,225 1.791 1,739 49,393 2,326 108,546 30.030 1,667 30,576 28 Question 4 (20 marks) Bill Sing's manager was not impressed with his work on the other question. Bill tried to find the answers on Chegg and Course Hero but was not successful. The boss really wants to fire Bill because of his lack of financial knowledge (he cheated throughout his studies), even though Bill Sing claims to have scored a 95% in Managerial Finance. As a sign of good faith, the boss gives Bill one more opportunity to prove himself. The following information was provided by the company Rotomac Inc. a. Prepare a statement of Comprehensive Income (both years) b. Prepare a Statement of Financial Position (both years) c. Calculate Operating Cashflow for the year 2020 d. Interest expense has decreased significantly in 2020. In a brief sentence or two explain why this may have occurred. e Depreciation expense has decreased significantly in 2020. In a brief sentence or two explain why this may have occurred. I Year 2019 12,731 7957 1,893 Depreciation Cost of Goods Other Expenses Interest Gross Sales Cash Accounts Receivable Sales Returns Short Term Notes Payable Long Term Debt Sales Discounts Net Fixed Assets Accounts Payable Prepaid Expenses Inventory Dividends 29,700 30 654 14,217 650 1,417 77.678 902 138 813 27 287 926 28 567 28 Year 2020 3,322 9,785 1648 1,552 33,878 31.450 19,225 1.791 1,739 49,393 2,326 108,546 30.030 1,667 30,576 28 Question 4 (20 marks) Bill Sing's manager was not impressed with his work on the other question. Bill tried to find the answers on Chegg and Course Hero but was not successful. The boss really wants to fire Bill because of his lack of financial knowledge (he cheated throughout his studies), even though Bill Sing claims to have scored a 95% in Managerial Finance. As a sign of good faith, the boss gives Bill one more opportunity to prove himself. The following information was provided by the company Rotomac Inc. a. Prepare a statement of Comprehensive Income (both years) b. Prepare a Statement of Financial Position (both years) c. Calculate Operating Cashflow for the year 2020 d. Interest expense has decreased significantly in 2020. In a brief sentence or two explain why this may have occurred. e Depreciation expense has decreased significantly in 2020. In a brief sentence or two explain why this may have occurred. I Year 2019 12,731 7957 1,893 Depreciation Cost of Goods Other Expenses Interest Gross Sales Cash Accounts Receivable Sales Returns Short Term Notes Payable Long Term Debt Sales Discounts Net Fixed Assets Accounts Payable Prepaid Expenses Inventory Dividends 29,700 30 654 14,217 650 1,417 77.678 902 138 813 27 287 926 28 567 28 Year 2020 3,322 9,785 1648 1,552 33,878 31.450 19,225 1.791 1,739 49,393 2,326 108,546 30.030 1,667 30,576 28