Data for Andrews AG are presented in E23.13.

Instructions
Prepare a statement of cash flows using the indirect method.

Transcribed Image Text:

Andrews AG COMPARATIVE STATEMENT OF FINANCIAL POSITION AS OF DECEMBER 31, 2019 AND 2018 12/31/19 12/31/18 Equipment €154,000 €130,000 Accumulated depr.-equipment (35,000) (25,000) Copyrights 46,000 50,000 Inventory 40,000 60,000 Short-term investments ding) 35,000 18,000 on- Prepaid rent 5,000 4,000 62,000 Accounts receivable 49,000 Cash 6,000 9,000 Total assets €313,000 €295,000 Share capital-ordinary, €10 par €100,000 €100,000 Share premium-ordinary 30,000 30,000 Retained earnings 36,000 57,000 Long-term loans payable 60,000 67,000 Accounts payable 46,000 42,000 Income taxes payable 4,000 6,000 Salaries and wages payable 8,000 4,000 Short-term loans payable 8,000 10,000 Total equity and liabilities €313,000 €295,000 Andrews AG INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2019 Sales revenue €338,150 Cost of goods sold 175,000 Gross margin 163,150 Operating expenses 120,000 Operating income 43,150 Interest expens €11,400 Gain on sale of equipment 2,000 9,400 Income before tax 33,750 Income tax expense 6,750 Net income € 27,000