Use the following information for questions 53. 57 (Note: an amount in brackets indicates a negative amount) The Wallis Corporation provides moving services to local clients and reported the following data for 2014: WALLIS CORPORATION Statement of Financial Position As at December 31, 2014 Cash Accounts receivable Prepaid insurance Total current assets Property, equipment and vehicles Accumulated depreciation Total non-current assets Total Assets 2014 $ 88,600 85.000 20.000 243.600 300.000 (110.400 249.600 $493,200 2013 $ 49.100 59 400 60.000 16R SOO 305.000 (105.900) 199 100 $367.600 $ 21.500 3.000 24.500 Liabilities and Shareholders' Equity Accounts payable Wages Payable Total current liabilities Bank loan payable Total liabilities Common Shares Retained Earnings Total Shareholders' Equity Total Liabilities & Shareholders' Equity 50.00 S 18.600 4.000 22.600 60,000 82.600 200,000 74 500 200.000 218.700 418.700 $493,200 35.00 285.000 $367.600 WALLIS CORPORATION Income Statement For the Year Ended December 31, 2014 $450,000 5.000 5455.000 Moving revenue Gain on Sale of Equipment Total revenues Expenses: Depreciation expense Wage expense Vehicle maintenance expense Interest expense Net income Additional data (1) Vehicles originally costing $65.000 were sold for $15,000 (2) Dividends were paid during the year. 59.500 134,000 102,400 5.400 301.300 $153.700 53. Using the Indirect method, compute the adjustments to Net Income prior to the non-cash working capital adjustments a) 589,200 b) $213.200 c) S208,200 d) $210.200 54. Cash Flow from (or used by) Operating Activities for Wallis Corporation is! a) ($147,800) b) $165.900 c) $174,500 d) $182,300 55. Cash collected from customers is: a) $424,400 b) $489,500 c) $407,600 d) $450,000 56. Cash paid for wages is: a) $134,000 b) $3,000 c) $135,000 d) $133,000 57. Cash Flow from (or used by) Investing Activities for Wallis Corporation is? a) ($120,000) b) ($110,300) c) ($105,000) d) $95,000 58. Cash Flow from (or used by) Financing Activities for Wallis Corporation is? a) ($10,000) b) ($30,000) c) ($15,400) d) ($40,400)