Maple Group Ltd.

Comparative Balance Sheet

December 31^st, 2020 and 2019

Assets

Cash and cash equivalent

Accounts Receivable

Inventories

Fixed Assets

Total Assets

Liabilities

Accounts payable

Accrued liabilities

Long-term notes payable

Stockholders’ Equity

Common stock

Retained earnings

Total liabilities and Stockholders’ equity

2020

9,300

45,450

1,02,000

1,42,300

2,99,050

25,600

24,000

54,350

1,40,300

54,800

2,99,050

2019

15,300

43,200

1,09,700

94,300

2,62,500

26,600

22,800

62,000

1,31,400

19,700

2,62,500

Increase

(Decrease)

-6,000

2,250

-7,700

48,000

36,550

-1,000

1,200

-7,650

8,500

35,100

36,550

Maple Group Ltd
Income Statement
Year Ended December 31, 2020
Revenues and gains:
Sales revenue	439,000
Interest revenue	11,800
Total revenues and gains	450,800
Expenses
Cost of goods sold	205,500
Depreciation expense	15,500
Other operating expense	126,000
Interest expense	24,300
Total expenses	371,300
Income before income taxes	79,500
Income tax expense	16,300
Net Income	63,200
Notes
Acquisition of fixed assets during 2020	63,500
Sale proceeds from the sale of a plant asset	-
Receipt for issuance of notes payable	-
Payment for note payable	7,650
Dividend paid	28,100
Book value of equipment sold	-

Prepare a complete statement of cash flows for 2020 using the indirect method.

Answer rating: 100% (QA)

Maple Group Ltd Statement of Cash flows For the Year Ended December 31 2020 Cash ... View the full answer