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The Red are incorrect. The green are correct. Please help me fill in the wrong ones. .uni ramble Limited, which follows IFRS, has adopted the
The Red are incorrect. The green are correct. Please help me fill in the wrong ones.
.uni ramble Limited, which follows IFRS, has adopted the policy of classifying interest paid as operating activities and dividends paid as financing activities. Condensed financial data for 2020 and 2019 follow (in thousands): BRAMBLE LIMITED Comparative Statement of Financial Position December 31 2020 2019 $1,980 $1,150 FV-NI investments 1,300 1,420 Accounts receivable 1,855 1,350 Inventory 1,685 2,020 Plant assets 1.985 1,760 Accumulated depreciation (1,200) (1,170) $7,605 $6,530 $950 Accounts payable Accrued liabilities Mortgage payable Common shares Retained earnings 295 1,390 2,010 2,605 $7,605 345 1,575 1,760 1,900 $6,530 1.285 BRAMBLE LIMITED Income Statement Year Ended December 31, 2020 Sales $6,895 Cost of goods sold 4,700 Gross margin 2,195 Administrative expenses 910 Income from operations Other expenses and gains Interest expense $(20) Gain on disposal of FV-NI investments 80 Income before tax 1,345 Income tax expense Net income $940 Additional information: During the year, $70 of common shares were issued in exchange for plant assets. No piant assets were sold in 2020. The FV-ni investments carrying amount and market value were the same at December 31, 2020. Prepare a statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a sign .g. 25,000 or in carenthesis e.a. 75.000. Enter amounts in thousands.) 60 Bramble Limited Statement of Cash Flows Bramble Limited Statement of Cash Flows For the Year Ended Decem Cash Flows from Operating Activities Cash Received from Customers 830000 Add Issuance of Common Shar 17500000 Cash paid to Suppliers for Goods 3860000 Cash paid for Operating Expenses 1285000 Cash Paid for Interest 20000 Cash Pald for Income Taxes 1405000 11930000 Net Cash Provided by Operating Activities 12760000 Cash Flows from Investing Activities Proceeds from Sale of FV- Net Cash Provided by Inve 80000 Cash Flows from Financing Activities TReduction in Mortgage Payable |(185000) Sale of Plant Assets Dividends Paid Net Cash Used by Financing Activities (185000) Net Increase in Cash 712655000 Cash, January 1, 2020 1653000C Cash, December 31, 2020 [19185000 Non-cash investing and financing activities Tissuance of common Shares for Plant Assets 1750000Step by Step Solution
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