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ITC India Limited has recently published the following income statement and comparative balance sheet for 2019 and 2018. Prepare the cash flow statement for the year ended December 31, 2019 using indirect method Marks will be awarded only if the proper fomat of the statement of cash flows is used [13] ITC India Limited Income Statement, Year Eaded December 31, 2019 Revenue from sales 286,000 Interest revenue 12,000 Dividend revenue 9,000 Gain on sale of plant assets 10,000 Total revenue and gains 317,000 Cost of goods sold 156,000 Wage expense 56,000 Deprecimion expense 20,000 Other operating expense 16,000 Interest expense 15.000 Income tax expense 14,000 Total Operating expense 277000 Net Income 40,000 Question No. 02 ITC India Limited Balance sheet: December 31, 2019 and 2015 Assets 2019 2015 Liabilities 2019 2018 Cash and cash equivalents 22.000 42.000 Cart Account receivable 90.000 73.000 Accounts payable 90.000 30.000 Inventory 143,000 145.000 Accuedlisbilities 5,000 16000 Total currents 255000 260000 Long-term Inter Plant assets net 400,000 210.000 Notes payable 100.000 50.000 Stockholders' Equity Common stock 370000 250,000 Retained as 110.000 80.000 Treasury stock 120.000 0 Total Assets 715,000 470,000 Total liabilities and 715000 $70000 stodholdes equity The details of the transactions carried out by the company "Purchase of measury stock and issuance of common stock for cash Purchase of plant asets for cash R 310000 Cash receipts from sale of plant assets (book value 40,000) R$50,000 Payments of dividend Rs10,000, Cash receipts from Issuance of actes payable R$90,000 Cash Payment of notes payable R$10,000

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