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The 2021 financial statements of Canbuild Inc. are presented below (unit measure in thousand). 2021 2020 Cash 20 50 Accounts receivable(net) 189 120 Inventory 167
The 2021 financial statements of Canbuild Inc. are presented below (unit measure in thousand). 2021 2020 Cash 20 50 Accounts receivable(net) 189 120 Inventory 167 187 Equipment 180 195 Accumulated depreciation equipment (140) (170) 416 382 Total assets 70 68 29 Accounts payable Dividends payable Long-term loan payable Common shares Retained earnings Total liabilities and shareholders' equity 24 107 107 110 110 100 73 Sales revenues 416 382 1,245 (655) Cost of goods sold Depreciation expenses Other operating expenses Net income During fiscal year 2021, Canbuild sold a piece of its equipment S153,000 Required: (98) (324) 168 come 168 During fiscal year 2021, Canbuild sold a piece of its equipment. The equipment sold had originally cost $153,000 Required: 1. Prepare Operating activity section of the statement of cash flows, using the indirect method, clearly labelling each cash flow item and ignoring the heading (3 points). 2. Determine the amount of cash paid to purchase the new equipment, Clearly show calculations for numbers that are not given (2 points). 3. Determine the amount of cash received from the sale of the equipment, Clearly show calculations for numbers that are not given (3 points). 4. Determine the amount of dividends paid. Clearly show calculations for numbers that are not given (3 points) 5. Determine the amount of cash collected from customers. Clearly show calculations for numbers that are not given (2 points). 6. Determine the amount of cash paid to suppliers. Clearly show calculations for numbers that are not given (3 points)
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