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You have the Financial Position Statement for XYZ Company for the years 2019 and 2020 Assets 2020 2019 Liabilities 2020 2019 Non-Current Assets Owners Equity
You have the Financial Position Statement for XYZ Company for the years 2019 and 2020 Assets 2020 2019 Liabilities 2020 2019 Non-Current Assets Owners Equity Equipment 120000 100000 Capital 100000 90000 Accum. Dep. 44000 20000 Retained Earnings 16000 24000 176000 80000 116000 114000 Furniture 20000 20000 Non Current Liabilities Accum. Dep. 4000 2000 Loan B0000 18000 16000 18000 Total N.C.A 92000 98000 B0000 18000 Current Assets Current Liabilities Cash 30000 24000 A/P 124000 12000 Inventory 18000 14000 N/P 2000 6000 AIR 36000 20000 Accruals 4000 6000 84000 58000 B0000 24000 176000 156000 176000 1g6000 Other Information for the year 2020 1- Net Profit is $30000 2- Furniture is depreciated by 10%, and Equipment is depreciated by 20% Straight Line Method 1- 50% of A/R was converted to N/R for 6 months, with 1% interest per month 4- All Non-Current Assets transactions were don in cash Required You are required to calculate the Cash Flow Statement for the year 2020 using INDIRECT METHOD
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