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this is the entire question. need to make an indirect cash flow statement please THE QUESTION Comparative statements of financial positions for Anderson Lid appear
this is the entire question. need to make an indirect cash flow statement please
THE QUESTION Comparative statements of financial positions for Anderson Lid appear below. Prepare; in good form, a complete good form cash flow statement using the Indirect method 31-Dec-20 Anderson Ltd. Statement of Financial Position Year Ended December 31, 2021 31-Dec-21 Assets Cash $0 Accounts receivable 80.800 Prepaid expenses 1.700 Inventory 130.200 Long term Investments 94.500 Land 250,000 Buildings 377.000 Accumulated depreciation buildings (87000) Equipment 135,000 Accumulated depreciation equipment (18.000) Total arts 5996200 $47.250 37.000 1.100 101,550 107.000 200,000 263.000 110,000) 40.000 110 000) $276.900 + Liabilities and Shareholders' Equity Bank Overdraft Accounts payable income tax payable $12.800 121.000 68.000 $0 109,000 114,000 Liabilities and Shareholders' Equity Bank Overdraft Accounts payable Income tax payable Bank loan payable Common shares Retained earnings Total liabilities and shareholders' equity $12,600 121,000 68,000 173,600 450,000 159,000 $984,200 $0 109,000 114,000 45,000 330,000 178.900 $776,900 Anderson Ltd. Statement of Income Year Ended December 31, 2021 Sales $ 900,000 Cost of goods sold 505,000 Gross profit 395,000 Operating expenses 350,000 Income from operations 45,000 Interest expense 52,000 Income before income tax 17.000) Income tax expense Net loss $7,000 sh Additional information regarding fiscal 2021: 1. Operating expenses include $70.000 of depreciation expenses and a $5.000 loss on sale 1.000) Income tax expense Net loss $7,000 Additional information regarding fiscal 2021: 1. Operating expenses include $70,000 of depreciation expenses and a $5,000 loss on sale of equipment that originally cost $20,000 and had a carrying value of $15,000. 2. Cash dividends were declared and paid during the year. 3. Land was purchased during the year. There was no disposal of land. 4. A new building was purchased during the year for $114,000. There was no disposal of building. 5. The company took out $128,600 of new bank loans during the year. 6. Long-term investments were sold during the year. There was no profit or loss on the sale. Required Prepare, in good form, a complete cash flow statement using the indirect method Your response must be included in the box below. No exceptions Step by Step Solution
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