Refer to the situation described in BE 4–11 and BE 4–12. How might your solution to those brief exercises differ if Hilliard Healthcare Co. prepares its statement of cash flows according to International Financial Reporting Standards?

Data From BE 4-12

Refer to the situation described in BE 4–11. Prepare the cash flows from investing and financing activities sections of HHC’s statement of cash flows. 

Data From BE 4-11

The following are summary cash transactions that occurred during the year for Hilliard Healthcare Co. (HHC): 

Cash received from: 

Customers..............................................$660,000 

Interest on notes receivable.................12,000 

Collection of notes receivable............100,000 

Sale of land..................................................40,000 

Issuance of common stock.................200,000 

Cash paid for: 

Interest on notes payable.....................18,000 

Purchase of equipment........................120,000 

Operating expenses..............................440,000 

Dividends to shareholders...................30,000 

Prepare the cash flows from operating activities section of HHC’s statement of cash flows using the direct method.