All of the information is there! I have posted this question multiple times and you keep saying that there is information missing. Nothing is missing. Please answer the question in the images. Additional information1.Depreciation expense of $182,000 is included in operating expenses.2.The company acquired equipment during the year.3.The company sold equipment for proceeds of $65,000. The asset was 70% depreciated at the time of sale.4.The short-term bank loans are considered cash and cash equivalents.5.Fair value though profit and loss investments with a carrying value of $70,000 were sold in 2020.6.FVTOCI investments with an original cost of $48,600 were sold in 2020 for proceedsThe investments had a carrying value of $42,000 at the beginning of 2020.$38,000.Required -a. Calculate the cash flow from operations section of the Statement of Cash Flow using the indirect method.b. Calculate cash flow from operations section of the Statement of Cash Flow using the direct method.c. Calculate cash flow from investing activities. The following is the Statement of Financial Position and the Statement of Income for Kaminsky Ltd.Kaminsky LtdStatement of Financial PositionAs at December 31, 202020202019Assets24,700 $188,500(15,000)Cash41,750Accounts receivable183,400Allowance for doubtful accountsFVTOCI investmentsFVTPL investmentsInventoryPrepaid insurance(16,500)260,000200,00060,00080,000161,00016,000665,650150,0001,480,000-580,000$ 1,400,000 $ 1,050,000$ 2,120,200 $ 1,715,650184,00018,000$ 720,200 $Land400,000Buildings and equipmentAccumulated depreciation1,650,000-650,000Liabilities and Shareholders' EquityShort-term bank loanAccounts payableUnearned revenuesTax payableDividends payable22,0005000103,600119,30020,40016,60016,75019,90025,00030,000$ 187,250 $$ 800,000 $1,124,950186,300Common shares800,000747,350-18,0001,529,350$ 2,120,200 $ 1,715,650Retained earningsAOCI- FVTOCI investments8,0001,932,950Kaminsky LtdStatement of Incomefor the Year Ended December 31, 2020$ 3,350,0001,340,000RevenueCost of Goods SoldGross marginOperating expensesBad debt expenseInterest expenseТах ехpenseGain on sale of equipment2,010,000717,0004,10044,500311,10017,000FV adjustment on FVTPL investments4,900Gain on sale of FVTPL investments7,500Net incomeOCI- FVTOCI investments962,70015,400$ 978,100Comprehensive income

Answered: Image /qna-images/answer/229ce9f2-6dfe-4fb2-a950-87d2be1620db.jpg

Additional information 1. Depreciation expense of $182,000 is included in operating expenses. 2. The company acquired equipment during the year. The company sold equipment for proceeds of $65,000. The asset was 70% depreciated at the time of sale. The short-term bank loans are considered cash and cash equivalents. 5. Fair value though profit and loss investments with a carrying value of $70,000 were sold in 2020. FVTOC investments with an original cost of $48,600 were sold in 2020 for proceeds of $38,000. The investments had a carrying value of $42,000 at the beginning of 2020. Required - a. Calculate the cash flow from operations section of the Statement of Cash Flow using the indirect method., b. Calculate cash flow from operations section of the Statement of Cash Flow using the direct method. c. Calculate cash flow from investing activities.

Additional information 1. Depreciation expense of $182,000 is included in operating expenses. 2. The company acquired equipment during the year. The company sold equipment for proceeds of $65,000. The asset was 70% depreciated at the time of sale. The short-term bank loans are considered cash and cash equivalents. 5. Fair value though profit and loss investments with a carrying value of $70,000 were sold in 2020. FVTOC investments with an original cost of $48,600 were sold in 2020 for proceeds of $38,000. The investments had a carrying value of $42,000 at the beginning of 2020. Required - a. Calculate the cash flow from operations section of the Statement of Cash Flow using the indirect method., b. Calculate cash flow from operations section of the Statement of Cash Flow using the direct method. c. Calculate cash flow from investing activities.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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