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Sama Inc. has prepared the following comparative statement of financial position for 2019 and 2020: 2020 2019 Plant assets 580,000 Accumulated depreciation (200,000) 645,000 (187,500)
Sama Inc. has prepared the following comparative statement of financial position for 2019 and 2020: 2020 2019 Plant assets 580,000 Accumulated depreciation (200,000) 645,000 (187,500) Patent 76,500 88,500 Prepaid expenses 9,000 18,500 Inventory 51,000 90,000 Receivables 279,500 58,500 Cash 247,500 20,000 Share capital preference 45,500 33,000 Share premium-preference 225,000 Share capital ordinary 276,500 84,000 Retained earnings 30,000 21,000 Mortgage payable 262,500 Accounts payable 60,000 70,000 Accrued liabilities 319,000 300,000 The income statement for 2020 is as follows) Sales Cost of sales Gross loss Operating expenses Net loss 1,945,000 1,954,000 (9,000) (345,000) (354,000) Additional information: Depreciation expense and amortization expense are included in the operating expense. Required 1. How much is the cash received from customers? (SHOW YOUR CALCULATIONS) 2 How much is the cash paid to suppliers? (SHOW YOUR CALCULATIONS) 3. How much is the cash paid for operating expenses? (SHOW YOUR CALCULATIONS)
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