FINA 301 Participation Practice Problems - Week 3 1. Selected financial statement information and additional data for Seeb Co. is presented below. Prepare a statement of cash flows for the year ending December 31, 2019 December 31 2018 2019 Land OMR 58,800 OMR 21,000 Equipment... 504,000 789,600 Inventory 168,000 201,600 Accounts receivable (net) 84,000 151,200 Cash.. 42,000 63,000 TOTAL OMR 856,800 OMR 1,226,400 OMR 420,000 67,200 OMR 487,200 205,800 168,000 302,400 Share capital-ordinary. Retained earnings Notes payable - Long-term. Notes payable - Short-term.... Accounts payable Accumulated depreciation TOTAL.. 67,200 29,400 50,400 84,000 86,000 115,600 OMR 1,226,400 OMR 856,800 Additional data for 2019: 1. Net income was OMR 235,200. 2. Depreciation was OMR 31,600. 3. Land was sold at its original cost in cash. 4. Dividends of OMR 96,600 were paid. 5. Equipment was purchased for OMR 84,000 cash. 6. A note payable for OMR 201,600 was used to pay for an equipment purchase