y, IFRS, 2e PLUS: MyWUSE STANDARD VIEW PRINTER VERSIE LAELISE 40 The comparative statements of financial position of Menachem Corporation at the beginning and end of the year 2015 appear below. INTERMEDL MENACHEM CORPORATION STATEMENTS OF FINANCIAL POSITION Assets Dec. 31, 2015 Jan. 1, 2015 Equipment 37,000 22,000 Less: Accumulated depreciation-equipment (17,000) (11,000) Accounts recelvable 106,000 88,000 Cash 22,000 13,000 Total 148,000 112,000 Inc./Dec. 15,000 Inc. 6,000 Inc. 18,000 Inc. 9,000 Inc. Equity and Liabilities Share capital-ordinary Retained earnings Accounts payable Total 100,000 28,000 20,000 C148,000 80,000 17,000 15,000 112,000 20,000 Inc. 11,000 Inc. 5,000 Inc. Net Income of 34,000 was reported, and dividends of 23,000 were paid in 2015. New equipment was purchased and none was sold. (a) Prepare a statement of cash flows for the year 2015. (Show amounts that decrease cash flow with either a sign c.9. -15,000 or in par (15,000).) MENACHEM CORPORATION Statement of Cash Flows For the Year Ended December 31, 2015 Ai DOLL 22000 (b) Compute the current ratio (current assets + current liabilities) as of January 1, 2015, and December 31, 2015, and compute free (Round ratios to 2 decimal places, e.g. 2.25. For negative numbers use either a negative sign preceding the number, (45).) 2015 2014 Current ratio : 1 : 1 Free cash flow Question Attempts: 0 of 15 used SAVE Ai e DELL F11 F10 F9 FB F7 F6 F5 F3 F2 F4 K 2 & * % $ Y 8 C >