Q.No.10: Prepare Cash flow statement from the following data using INDIRECT method: Balance Sheet as...
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Q.No.10: Prepare Cash flow statement from the following data using INDIRECT method: Balance Sheet as of December 31, 2019 2020 Cash & Mark. Sec. 8000 4500 Account Receivable 4500 8000 Inventories 5500 7000 Current Assets 18000 19500 Net Fixed Assets 35000 40000 Total Assets 53000 59500 Account Payable 4000 6000 Bank Loan 6400 2500 Accruals 5000 8000 Current Liabilities 15400 16500 Long Term Debt 20600 25000 Common Stock & R/E 17000 18000 Total L + O. E 53000 59500 Income Statement For 2020 Net Sales 80000 Cost of Goods Sold 40000 Gross Profit 40000 Selling & Admin Exp. 15500 Interest Exp. 5500 Profit before Tax 19000 Taxes (30%) 5700 Profit after Taxes 13300
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