Prepare the statement of cash flows for XYZ Pty Ltd

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Reference no: EM133111491

Question - You are given the Income Statement and Balance Sheet for XYZ Pty Ltd for the year ended 30 June 2015 as below:

XYZ Pty Ltd Income Statement For the year ended 30 June 2015

REVENUE



Sales revenue

304


Interest revenue

21


Dividend revenue

19


Gain on sales of PPE

42


TOTAL REVENUE


386




COST OF SALES

170

170




EXPENSES



Salary & wages expense

60


Depreciation expense

26


Interest expense

26


Other operating expense

23


TOTAL EXPENSES


135




PROFIT BEFORE INCOME TAX


81

Less: Income tax expense


(25)

NET PROFIT AFTER TAX


$56

 

XYZ Pty Ltd Balance Sheet For the year ended 30 June 2015


2015

2014

ASSETS



CURRENT ASSETS



Cash

120

112

Accounts receivable

113

100

Interest receivable

13

10

Inventory

155

158

NON-CURRENT ASSETS



PPE, net

352

227




LIABILITIES



CURRENT LIABILITIES



Accounts payable

101

77

Salary & wages payable

8

10

Other expenses payable

8

10

NON-CURRENT LIABILITIES



Long-term debts

200

100




NET ASSETS

436

410




SHAREHOLDERS' EQUITY



Share capital

300

300

Retained earnings

136

110

TOTAL SHAREHOLDERS' EQUITY

436

410

Additional information:

PPE that had a carrying amount of $60 was sold for $102.

New PPE purchased for cash amounted to $211.

A borrowing of $100 was made during the year and received in cash.

Dividends received in cash were $19.

Dividends were paid in cash during the year.

Required - Prepare the statement of cash flows for XYZ Pty Ltd for the year ended 30 June 2015.

Reference no: EM133111491

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