Gradebook ORION Download Assignment ent Question 4 Presented below are the financial statements of Skysong Company Ltd. SKYSONG COMPANY LTD. Comparative Statements of Financial Position December 31 Assets 2017 Equipment 59,060 Accumulated depreciation-equipment (29,360) Inventory 29,200 Accounts receivable 32,800 Cash 37,000 Total 128,700 2016 77,960 (23,030) 20,870 19,440 19,410 114,650 Equity and Liabilities Share capital-ordinary Retained earnings Bonds payable Accounts payable Income taxes payable Total 18,310 46,830 27,960 28,300 7,300 E128,700 14,790 40,890 33,950 16,550 8,470 114,650 N 7 Boo Assignment Practice Gradebook ORION Downloadable eTextbook signment PRINTER VERSION BACK CALCULATOR CES Income taxes payable Total 7,300 128,700 8,470 114,650 SKYSONG COMPANY LTD. Income Statement For the Year Ended December 31, 2017 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Not income 6242.230 176,400 65.750 23,130 42.570 2.620 39,950 8,520 31,430 Additional data: 1. Depreciation expenses 15,490 2. Dividends declared and paid were 25,490 3. During the year equipment was sold for 9.740 cash. This equipment cost 10,900 originally and had accumulated depreciation of 29.160 at the time of sale (a) Prepare a statement of cath flows using the indirect method. (Show amounts that decrease cash flow with other asign -15,000 or in parenthesis | MVCMBOO S Help System Announcements ORION Downloadable e Textbook ractice Assignment Gradebook ignment ES (a) Prepare a statement of cash flows using the Indirect method. (Show amounts that decrease cash flow with e (15,000).) SKYSONG COMPANY LTD. Partial Statement of Cash Flows E Adjustments to reconcile net income to VVOBOOK ment BOOK