The following information is available for Gyatt Pty Ltd: Gyatt Pty Ltd Statement of Financial Position December 31, 2020 2019 S50,500 115.500 (4,000) 2,000 10.000 50,000 35.000 10,000 90.000 (19,500) $339,500 2020 Assets Cash $17,700 Accounts receivable 125.000 Allowance for doubtfuldebt (7,000) Prepaid insurance 800 Inventory 8.000 Land 75,000 Building 47,000 Patents 10,000 Equipment 100,000 Accumulated depreciation - Equipment (13,500) Total assets S363,000 Liabilities and equity Accounts payable $25,000 Accrued expenses payable 2,500 Note payable 8,000 Long-term debt 70,000 Share capital 195,000 Revaluation surplus 17,000 Retained earnings 45,500 Total liabilities and equity $363,000 Gyatt Pty Ltd Statement of Profit or Loss For the Year Ended December 31, 2020 $10,000 2,000 11.000 48.500 179,500 5,000 83,500 S339,500 Sales Cost of goods sold Gross margin Depreciation expense Selling and administrative expense Bad debt expense Operating income Loss on sale of equipment Net loss $325.000 $279.000 S46,000 $9,000 $65.000 $5,000 (33,000) (3.000) (36,000) Page 18 Additional information: 1. An equipment with a cost of $20,000 was sold in 2020 for cush, and the company bought a new equipment for cash. 2. Cash dividend was paid in 2020. 3. New shares were issued for cash in 2020. 4. Building was revaluated upward by $ 12,000 using revaluation surplus account. 5. Land was purchased in cash in 2020. 6. Notes worth $ 3,000 were retired in cash. 7. $ 21,500 cash were borrowed from ZNA Bank for 5 years. Required: (A) Calculate the amount of bad debts which were written-off against accounts receivable during the fiscal year 2020. (B) Calculate the amount of cash received by selling the equipment with a cost of $ 20,000. (C) Calculate the amount of cash dividend paid during the fiscal year 2020. (D) Prepare a statement of cash flows for Gyatt Pty Ltd for the fiscal year 2020 using the DIRECT method. (E) Prepare a reconciliation of net profit to cash provided by operating activities for the fiscal year 2020. Note: i. Ignore the effect of GST. 11. Classify interest paid (if any) as operating activity. Classify interest received (if any) and dividend received (if any) as operating activities. ill