Assets Cash and cash equivalent Accounts Receivable Inventories Fixed Assets, net Total Assets Liabilities Accounts payable...

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Assets Cash and cash equivalent Accounts Receivable Inventories Fixed Assets, net Total Assets Liabilities Accounts payable Accrued liabilities Long-term notes payable Stockholders' Equity: Common Stock Retained earnings Maple Group Ltd Comparative Balance Sheet December 31, 2020 and 2019 2020 Revenues and gains: Sales revenue 143,050 54,800 Total liabilities and stockholders' equity 324,300 Maple Group Ltd Income Statement Interest revenue Total revenues and gains Expenses Cost of goods sold Depreciation expense Year Ended December 31,2020 Other operating expense Interest expense Total expenses 51,500 ? Income before income taxes Income tax expense Net Income 61,400 160,000 324,300 Notes Acquisition of fixed asset during 2020 Sale proceed from sale of plant asset Receipt for issuance of notes payable Payment for note payable Dividend paid Book value of equipment sold ? 31,000 60,000 510,000 11,800 205,500 21,000 126,000 24,300 2019 Increase/(Decrease) 45,400 ? ? 110,000 268,700 ? ? 78,540 105,110 19,700 268,700 521,800 376,800 145,000 16,300 128,700 71,000 18,540 93,600 ? ? ? ? ? 9,500 55,600 (6,550) 37,940 35,100 55,600 Requirements 1. How can the owners use the cash flow information or what can the statement of cash flows helps the owners to do? 2. Reconstruct the company's comparative balance sheet for 2019/2020 using the information in line with your first name initial and compute and show the missing figures to include the appropriate sign as a positive or negative figure. 3. Prepare a complete statement of cash flows for 2020 using the indirect method using the information in line with your first name initial. Assets Cash and cash equivalent Accounts Receivable Inventories Fixed Assets, net Total Assets Liabilities Accounts payable Accrued liabilities Long-term notes payable Stockholders' Equity: Common Stock Retained earnings Maple Group Ltd Comparative Balance Sheet December 31, 2020 and 2019 2020 Revenues and gains: Sales revenue 143,050 54,800 Total liabilities and stockholders' equity 324,300 Maple Group Ltd Income Statement Interest revenue Total revenues and gains Expenses Cost of goods sold Depreciation expense Year Ended December 31,2020 Other operating expense Interest expense Total expenses 51,500 ? Income before income taxes Income tax expense Net Income 61,400 160,000 324,300 Notes Acquisition of fixed asset during 2020 Sale proceed from sale of plant asset Receipt for issuance of notes payable Payment for note payable Dividend paid Book value of equipment sold ? 31,000 60,000 510,000 11,800 205,500 21,000 126,000 24,300 2019 Increase/(Decrease) 45,400 ? ? 110,000 268,700 ? ? 78,540 105,110 19,700 268,700 521,800 376,800 145,000 16,300 128,700 71,000 18,540 93,600 ? ? ? ? ? 9,500 55,600 (6,550) 37,940 35,100 55,600 Requirements 1. How can the owners use the cash flow information or what can the statement of cash flows helps the owners to do? 2. Reconstruct the company's comparative balance sheet for 2019/2020 using the information in line with your first name initial and compute and show the missing figures to include the appropriate sign as a positive or negative figure. 3. Prepare a complete statement of cash flows for 2020 using the indirect method using the information in line with your first name initial.

Answer rating: 100% (QA)

1 2 A Cash flow statement summarizes the movement of cash from opening balance to closing balance an... View the full answer