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this is 3rd ques. Current Attempt in Progress Marchant Ltd. reported the following abbreviated statement of financial position and statement of income for 2020. MARCHANT

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this is 3rd ques.

Current Attempt in Progress Marchant Ltd. reported the following abbreviated statement of financial position and statement of income for 2020. MARCHANT LTD. Comparative Statement of Financial Position Dec. 31, 2020 Cash $55,000 Accounts receivable 115,000 Inventory 315,000 Property, plant, and equipment 690,000 Less: Accumulated depreciation (255,000 Total assets $920,000 Accounts payable $80,000 Wages payable 5,000 Loan payable 344,550 190.000 Common shares 300.450 Retained earnings Total liabilities and shareholders' equity $920,000 Dec. 31, 2019 $65,000 135,000 275,000 640,000 (225,000 $890,000 $83,000 9,000 398,000 140,000 260.000 $890.000 MARCHANT LTD. Statement of Income For the year ended December 31, 2020 $440,000 230,000 210,000 MARCHANT LTD. Statement of Income For the year ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Other expenses: Supplies expense $10,000 Depreciation expense 30,000 Wages expense 100,000 Other operating expenses 5,000 Interest expense 20.000 165,000 45,000 4,000 $49,000 Other income Net income (a) Prepare a statement of cash flows for Marchant Ltd. for the year ended December 31, 2020, using the indirect method. (Show that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

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