Week $2$ Assessment: Preparing a Statement of Cash Flows using the Indirect Method

Please note: this is an individual assignment.

Presented below are financial statements along with additional information from Rajesh Ltd$.$:

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Additional data

$1.$ Net income from the income statement for $2020$ was USD $32,000$

$2.$ Depreciation expense is USD $13,300$

$3.$ Dividends declared and paid were USD $20,000$

$4.$ During the year, equipment was sold for USD $9,700$ cash. This equipment cost USD $18,000$ originally and had accumulated depreciation of USD $8,300$ at the time of sale.

Instructions:

Prepare a statement of cash flows for $2020$ using the indirect method according to the information provided

Upload your work as a file $\backslash$table$[[$Balance Sheet,$\backslash$table$[[\backslash$table$[[2020],[($in USD$)]]]],\backslash$table$[[\backslash$table$[[2019],[($in USD$)]]]]],[$Equipment$,60,000,78,000],[\backslash$table$[[$Accumulated depreciation $-],[$equipment$]],(29,000),(24,000)],[$Inventory$,30,000,20,000],[$Accounts receivable,$33,000,14,000],[$Cash$,37,000,20,000],[$TOTAL$,131,000,108,000],[$Share capital $-$ ordinary,$18,000,14,000],[$Retained earnings,$50,000,38,000],[$Bonds payable,$27,000,33,000],[$Accounts payable,$29,000,15,000],[$Income tax payable,$7,000,8,000],[$TOTAL$,131,000,108,000]]$