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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
EXPENSES
Salary & wages expense
60
Depreciation expense
26
Interest expense
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
Other expenses payable
NON-CURRENT LIABILITIES
Long-term debts
200
NET ASSETS
436
410
SHAREHOLDERS' EQUITY
Share capital
300
Retained earnings
136
110
TOTAL SHAREHOLDERS' EQUITY
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.
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