Task 4 2018 On finishing the task of preparing the Group Consolidated Financial Statements, The Chief Financial Officer, request you to offer your assistance to Accenture SAOG, one of the few associate Companies of Hanover Corp. The Chief Accountant of Accenture SAOG has taken unwell and since it is the end of the year, there is no time to search for a new accountant as the submission date to the Capital Market Authority is coming closer. You learn that the investments were sold for Omani Rial 120,000 cash. Equipment and land were acquired for cash. There were no disposals of equipment during the year. The common stock was issued for cash. There was an Omani Rials 280,000 credit to Retained Earnings for net income. There was an Omani Rials 75,000 debit to Retained Earnings for cash dividends declared. The current Chief Accountant has already prepared Statement of Comprehensive Income, Statement of changes in equity and finally Statement of Financial Position. The only statement not yet prepared is the Statement of Cash Flows. You download the Statement of Financial Position for the year 2018 and collate the two years in the format below. Armed with this information, you set out to prepare the Statement of Cash Flows. 2019 Particulars (Omani Rials) (Omani Rials) Cash 95,000 112,000 Accounts receivables 350,000 320,000 Inventory 685,000 600,000 100,000 375,000 Equipment 620,000 575,000 Accumulated depreciation - Equipment (275,000) (200,000) Total Assets 1,850,000 1,507,000 Equity and Liabilities Accounts payable 260,000 210,000 Accrued expenses payable 75,000 82,000 Dividends payable 25,000 20,000 Equity share capital 10 RO par value 500,000 450,000 Paid-in capital: Excess of issue over par- 140,000 100,000 Equity share capital Retained earnings 850,000 645,000 Total Liabilities and Owners equity 1,850,000 1,507,000 0 Investments Land 0