Using the information from BE22-9 for Azure Ltd., (a) prepare the cash flows from operating activitiessection of

Question:

Using the information from BE22-9 for Azure Ltd., (a) prepare the cash flows from operating activitiessection of Azure's 2017 statement of cash flows using the indirect method and following IFRS. (b) How would the disclosure requirements differ under ASPE?

Data From BE22-9:

Azure Ltd. had the following 2017 income statement data:

Sales Cost of goods sold Gross profit Operating expenses (includes depreciation of $21,000) Income before

The following accounts increased during 2017 by the amounts shown: Accounts Receivable, $17,000; Inventory, $11,000; Accounts Payable (relating to inventory), $13,000; Taxes Payable $2,000; and Mortgage Payable, $40,000.

Fantastic news! We've Found the answer you've been seeking!