Shown below are the statements of comprehensive income, the comparative statements of financial positions, and additional information useful in preparing the 20X5 SCF for Sells Company.

Additional information:
a. Equipment costing $ 66,000 with a book value of $ 20,000 was sold at book value. New equipment was also purchased; common shares were issued in partial payment.
b. The bonds were repaid at maturity; $ 2,000 of bond discount was amortized in 20X5 prior to the maturity date.

Required:
Prepare the 20X5 SCF, indirect method, for Sells Company. Omit separate disclosure of cash paid for income tax and interest in the operating activities section. The solution to this assignment features an optionalspreadsheet

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Statement of Comprehensive Income For the year ended 31 December 20x5 Net sales Cost of goods sold Gross margin Depreciation expense Amortization of intangibles Other expenses Interest expense Income tax expense Net earnings and comprehensive income $300,000 80,000 220,000 45,000 2,000 44,000 3,000 65,000 Statement of Financial Position As of 31 December 20X5 20X4 Cash Accounts receivable Other receivables Inventory Equipment Accumulated depreciation Intangibles, net 32,000 16,000 50,000 3,000 30,000 80,000 (6,000) 55,000 47,000 2,000 32,000 77,000 (5,000) 53,000 $238000 $228,000 Total assets Accounts payable Income taxes payable Interest payable Bonds payable Discount on bonds payable Common shares Retained earnings $60,000 50,000 70,000 2.000 32,000 (2,000) 70,000 6,000 $238,000 $228,000 50,000 80,000 47,000 Total liabilities and owners' equity