Question 6 (25 marks) Given the following information for Cat Castle Incorporated prepare their statement of cash flows for December 31, 2017 using the indirect method. Also, Explain the preparing Indirect Cashflow and specify the differences with respect to ASPE and IFRS standards between Indirect and Direct Cashflow methods. process of 2017*2016* Cash375250 Accounts receivable8575 Interest receivable56 Inventory8095 Prepaid Expenses4810 Non-current - Note receivable90125 Property, plant and Equipment325330 (net of depreciation) Accounts payable3320 Accrued liabilities4556 Common Shares825755 Retained Earnings 10560 Net income50 Depreciation expense2 Gain on sale of property1.5 * in 000s Layout References Review View Help Open in Desktop App tino Linoty... 11 Tell me what you want to do A A B U O A A EvEve Ev Cat Castleins Statement of Cash Flows For Year Ended December 31, 2017 Cash Flow from Operating Activities: Cash Flow from Investing Activities: noty... 11 Tell me what you want to do A A BIU2AA EvEve Ev A Cash Flow from Financing Activities: Net Increase in Cash: Cash Balance: January 1, 2017 Cash Balance: December 31, 2018 Explain the process of preparing Indirect Cash flow and specify the differences with to ASPE and IFRS standards between Indirect and Direct Cashflow methods. respect Page Break Question 6 (25 marks) Given the following information for Cat Castle Incorporated prepare their statement of cash flows for December 31, 2017 using the indirect method. Also, Explain the preparing Indirect Cashflow and specify the differences with respect to ASPE and IFRS standards between Indirect and Direct Cashflow methods. process of 2017*2016* Cash375250 Accounts receivable8575 Interest receivable56 Inventory8095 Prepaid Expenses4810 Non-current - Note receivable90125 Property, plant and Equipment325330 (net of depreciation) Accounts payable3320 Accrued liabilities4556 Common Shares825755 Retained Earnings 10560 Net income50 Depreciation expense2 Gain on sale of property1.5 * in 000s Layout References Review View Help Open in Desktop App tino Linoty... 11 Tell me what you want to do A A B U O A A EvEve Ev Cat Castleins Statement of Cash Flows For Year Ended December 31, 2017 Cash Flow from Operating Activities: Cash Flow from Investing Activities: noty... 11 Tell me what you want to do A A BIU2AA EvEve Ev A Cash Flow from Financing Activities: Net Increase in Cash: Cash Balance: January 1, 2017 Cash Balance: December 31, 2018 Explain the process of preparing Indirect Cash flow and specify the differences with to ASPE and IFRS standards between Indirect and Direct Cashflow methods. respect Page Break
