a) Prepare the cash flow statement for Maple Landmark Company for the year ended December 31, 2021 (Using the indirect method)

a) Prepare the cash flow statement for Maple Landmark Company for the year ended December 31, 2021 (Using the indirect method)

Problema: Given the following financial statements for Maple Landmark Company. Maple Landmark Company Comparative Balance Sheet At December 31, 2020 Assets 2020 Cash EGP102,700 Accounts Receivables 60,800 Inventories 126,900 Land 79,500 Plant Assets 315.000 Accumulated depreciation (44,500) Total assets 640,400 Liabilities and Stockholders' equity Accounts payable 57,700 Accrued expenses payable 15,100 Bonds payable 145,000 Common stock 250,000 Retained earnings 172,600 Total liabilities and stockholders' equity 640,400 2019 33,400 37,000 102,650 107.000 205,000 (40.000) 445,050 48,280 18,830 70,000 200,000 107,940 445,050 Maple Landmark Company Income statement For the year ended, December 31, 2020 Sales EGP 297,500 Cost of goods sold (99,460) Gross profit 198,040 Operating expenses ( 43,110) Operating income before interest and tax 154,930 Interest expenses (10,000) Gain on sale of plant assets 5,000 Income before tax expense 149,930 Tax expense (Tax rate = 24.86%) (37,270) Net income 112,660 Additional information: 1. Operating expenses including depreciation expense of EGP30,500 2. New plant assets costing EGP146,000 were purchased for cash during the year. 3. Land was sold at cost for cash. 4. Plant assets costing EGP36,000 with book value of EGP 10,000 were sold for EGP15,000. 5. A cash dividend of EGP 48,000 was declared and paid during the year. 6. Bonds with EGP75, 000 face value were issued for cash. 7. The company issued common stock for EGP50,000 for cash. Required: a) Prepare the cash flow statement for Maple Landmark Company for the year ended December 31, 2020 (Using the indirect method)