Question: Q7 (18 points) Please submit one screenshot for Q7 from your EXCEL worksheet Question 7 (18 marks) Given the following information for Rat Rack Incorporated

Q7 (18 points) Please submit one screenshot for Q7 from your EXCEL worksheet Question 7 (18 marks) Given the following information for Rat Rack Incorporated prepare their statement of cash flows for December 31, 2017 under ASPE. 2017 2016* Cash 560 365 Accounts receivable 75 85 Inventory 35 62 Prepaid Expenses 22 5 Non-current - Note receivable 112 300 Property, plant and Equipment 420 460 (net of depreciation) Accounts payable 13 40 Accrued liabilities 12 83 Common Shares 914 Retained Earnings 265 240 Net income 57 Depreciation expense 30 * in 000s Gain on sale of property 7 *in 000s 934

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