Requirement: a- Prepare Cashflow Statement? b- Calculate companys account receivable turnover rate for year 2020 and also calculate average days outstanding of the companys account receivables?

Question 2: Dawood Hercules Corporation Income Statement For the year ended Dec 31, 2020 Revenue and Gains: Net Sales.......... ...Rs 900,000 Dividend Revenue.... Rs 3.000 Interest Revenue....... ...Rs 6,000 Gain on Sales of Plant Assets..... Rs 31.000 Total revenue and gains.. Rs 940,000 Cost Expenses and Lesse: Cost of Goods sold.... Rs 500,000 Operating expenses (including depreciation Rs 40,000).........Rs 300.000 Interest expense....... Rs 15.000 Income tax expense...... Rs 36,000 Loss on sale of marketable securities... Rs 4000 Total cost expenses, and losses...... .... R$ 875.000 Net Income..... ....Rs 65,000 Additional Information: # Dividend is recognized on cash basis - Dehit entry for marketable securities Rs 65.000 and credit entry is Rs 44,000 - Dehit entry for Note receivable Rs 17.00) and credit entry in Rs 12.000 - Plant asset increased by Rs 200.000) out of which $160.000 has been paid in cash e Plant asset of Rs 44,000 book value is sold - Short term notes Payable increased to Rs 45./XK) and short-term loan paid is Rs 55,000 & Company issued long term bond of Rs 100,000 cash - The company issued 1,000 shares of Rs 10 par value common stock for cash at price of Rs 50/share, Cash dividend paid is Rs 40,00) 2019 Rs 20,6X00 64,000 12,000 80,000 3.0XX) 90,000 1.000 270.000 500.0XX) 770.000 Dawood Hercules Corporation Comparative Balance Sheets For the year ended Dec 31, 2019,2020 Ases 2020 Current Assets Cash and Cash equivalents Rs 55,000 Marketable Securities 85.000 Notes Receivables 17.KKO Account Receivable 110,000 Accrued interest Receivable 2,000 Inventory 100,000 Prepaid expenses 4,000 Total Current Assets 373,000 Plant and equipment (net of Accumulated Dep) 616,000 Total Assets 989.000 Libilities and Stockholder canity Notes payable (short term) 45.00 Account Payable 76.10 Interest payable 22.00 Income tax payable 8,000 Other accrued expense payable 3,000 Total current liabilities 154,000 Long term liabilities: Notes Payable Jong term 40.000 Bond Payable 400,000 Total Liabilities 594,000 Stockholder Equity: Capital Stock 60.XIO Additional Paid in capital 140,000 Retained earnings 195.000 Total stockholder equity 395.000 Total Liabilities and equity 989,000 55,000 61,000 15,000 10,000 9.0x0 150.00 0 300.0XX) 450.000 50,000 100.XXX 170.0XX) 320K) 770,000 Requirement: - Prepare Cashflow Statement? (6) - Calculate company's account receivable tumover rate for year 2020 and also calculate average days outstanding of the company's account receivables! (2) 3