Question 5 Brintex Distributors Income Statement for the year ended 30 June 20X1 Revenue: Sales Revenue...

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Question 5 Brintex Distributors Income Statement for the year ended 30 June 20X1 Revenue: Sales Revenue $900,000 Dividends Received 3,000 Interest Earned 6,000 Profit on Sale of Plant 31,000 Total Revenue and Gains $940,000 Expenses: Cost of Goods Sold $500,000 Operating Expenses 260,000 Depreciation 40,000 Interest 35,000 Loss on Sale of Marketable Security 4,000 Total Expenses 839,000 Profit before Income Tax $101,000 4+ Brintex Distributors Balance Sheet As at 30 June 20X1 20X1 20X0 Assets: Cash Accounts Receivable Inventory Prepayments Accrued Interest Marketable Securities Plant and Equipment $ 0 2,000 97,000 67,000 130,000 120,000 9,000 6,000 0 1,000 2,000 12,000 380,000 3000,000 RSS Accumulate Depreciation. (30,000) (50,000) Total Assets $588,000 $458,000 Liabilities: Bank Overdraft Accounts Payable 1,000 0 76,000 61,000 12 Accrued Expenses Bills Payable 3,000 100,000 4,000 50,000 Mortgage 150,000 160,000 Total Liabilities Net Assets Owner's Equity $330,000 $275,000 $258,000 $183,000 $258.000 $183.000 Additional information: A piece of plant that originally cost $80 000 and had been depreciated by $60 000 was sold for $51 000. Required: (a) Prepare the Cash Flow Statement for Brintex Distributors for the year ended 30 June 20X1 using the Direct Method. Question 5 Brintex Distributors Income Statement for the year ended 30 June 20X1 Revenue: Sales Revenue $900,000 Dividends Received 3,000 Interest Earned 6,000 Profit on Sale of Plant 31,000 Total Revenue and Gains $940,000 Expenses: Cost of Goods Sold $500,000 Operating Expenses 260,000 Depreciation 40,000 Interest 35,000 Loss on Sale of Marketable Security 4,000 Total Expenses 839,000 Profit before Income Tax $101,000 4+ Brintex Distributors Balance Sheet As at 30 June 20X1 20X1 20X0 Assets: Cash Accounts Receivable Inventory Prepayments Accrued Interest Marketable Securities Plant and Equipment $ 0 2,000 97,000 67,000 130,000 120,000 9,000 6,000 0 1,000 2,000 12,000 380,000 3000,000 RSS Accumulate Depreciation. (30,000) (50,000) Total Assets $588,000 $458,000 Liabilities: Bank Overdraft Accounts Payable 1,000 0 76,000 61,000 12 Accrued Expenses Bills Payable 3,000 100,000 4,000 50,000 Mortgage 150,000 160,000 Total Liabilities Net Assets Owner's Equity $330,000 $275,000 $258,000 $183,000 $258.000 $183.000 Additional information: A piece of plant that originally cost $80 000 and had been depreciated by $60 000 was sold for $51 000. Required: (a) Prepare the Cash Flow Statement for Brintex Distributors for the year ended 30 June 20X1 using the Direct Method.