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Question 6 (13 marks) SB Ltd. Statement of comprehensive income For the year ended December 31, 2019 Following are the statements of financial position, comprehensive income and supplementary information for SB Ltd. (SB) for the years ended December 31, 2018 and 2019 SB Ltd. Statement of financial position As at December 31 2019 2018 income $ 4,400 9,400 6,040 520 Assets Cash Accounts receivable (net) Inventory Prepaid insurance FVOCI-elect investments Property, plant and equipment Accumulated depreciation Land Total assets Sales revenue $26.000 Cost of goods sold 14.200 Depreciation expense 1,600 Wages and salaries expense 3,800 Operating expense 2,600 Interest expense 330 Loss on sale of property, plant and equipment 120 Income tax expense 1.100 Net 2,250 Other comprehensive income: Loss on FVOCI-elect investments 75 Total comprehensive income $ 2.175 Supplementary information: Equipment costing $5,000 was acquired by issuing an interest-bearing long-term note for the full amount. Equipment that originally cost $4,900 was sold during 2019. One FVOCl-elect investment was sold for $325 during 2019. The original cost was $265, and the carrying value was $300 at the end of 2018. SB's policy is to transfer the net balance of AOCI to retained eamings upon derecognition of this investment. Several FVOCI-elect investments were purchased during 2019. $ 6,000 10,600 4,000 960 800 32,000 (8,000) 16,040 $62.400 1,200 32,400 (6,400) 32.440 $80.000 Liabilities and shareholders' equity Liabilities: Accounts payable Wages payable Dividends payable Long-term notes payable otal liabilities $ 4,000 740 $ 4,360 365 560 10,400 $15,685 8.000 $12.740 Required: Shareholders' equity: Common shares Retained earnings AOCI FVOCI-elect investments Total shareholders' equity Total liabilities and shareholders' equity Prepare a statement of cash flows for the year ended December 31, 2019, using the direct method. (Remember to analyze the FVOCl-elect investment and AOCI accounts.) (13 marks) $54,400 10,000 (85) $64.315 $80.000 $40,000 9,600 60 $49.660 $62.400