Below are the financial statements of ABC Company 2018 2017 cash 120,000 44,000 accounts receivable 100,000 90,000 inventory 220,000 242,000 equipment 220,000 120,000 a/d equipment 80,000 60,000 land 820,000 1,020,000 total assets 1,340,000 1,396,000 accts payable 220,000 180,000 common stock 220,000 200,000 r/e 900,000 1,016,000 Income statement sales 420,000 cogs 180,000 oper expenses 80,000 depreciation exp 40,000 loss...

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Finance

Below are the financial statements of ABC Company
2018 2017
cash 120,000 44,000
accounts receivable 100,000 90,000
inventory 220,000 242,000
equipment 220,000 120,000
a/d equipment 80,000 60,000
land 820,000 1,020,000
total assets 1,340,000 1,396,000
accts payable 220,000 180,000
common stock 220,000 200,000
r/e 900,000 1,016,000
Income statement
sales 420,000
cogs 180,000
operexpenses 80,000
depreciation exp 40,000
loss onsale land 100,000
income 100,000
Further information
a) ABCsold some stock during the year
b) ABConly had 1 transaction dealing with land this year
c) ABCpurchased some equipment this year
d) ABCpaid a dividend this year
PREPARE A STATEMENT OF CASH FLOWS USING THE INDIRECTMETHOD

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Proceed from sale of land Cost of land Loss on sale oflandProceed from sale of See Answer

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Below are the financial statements of ABC Company20182017cash120,00044,000accounts receivable100,00090,000inventory220,000242,000equipment220,000120,000a/d equipment80,00060,000land820,0001,020,000total assets1,340,0001,396,000accts payable220,000180,000common stock220,000200,000r/e900,0001,016,000Income statementsales420,000cogs180,000operexpenses80,000depreciation exp40,000loss onsale land100,000income 100,000Further informationa) ABCsold some stock during the yearb) ABConly had 1 transaction dealing with land this yearc) ABCpurchased some equipment this yeard) ABCpaid a dividend this yearPREPARE A STATEMENT OF CASH FLOWS USING THE INDIRECTMETHOD

	2018	2017
cash	120,000	44,000
accounts receivable	100,000	90,000
inventory	220,000	242,000
equipment	220,000	120,000
a/d equipment	80,000	60,000
land	820,000	1,020,000
total assets	1,340,000	1,396,000

accts payable	220,000	180,000

common stock	220,000	200,000
r/e	900,000	1,016,000

Income statement
sales	420,000
cogs	180,000
operexpenses	80,000
depreciation exp	40,000
loss onsale land	100,000
income	100,000