LATIHAN SOAL CASH FLOW

ANNA COMPANY
Comparative Statements of Financial Position
December 31
($ in thousands)
Assets 2019 2018

Land $ 157,500 $ 150,000

Buildings 450,000 450,000
Accumulated depreciation – building (45,000) (30,000)
Equipment 262,500 75,000
Accumulated depreciation – equipment (30,000) (18,000)
Prepaid expenses 12,000 15,000
Inventory 75,000 0
Accounts receivable 75,000 43,500
Cash 142,500 91,500
Totals 1,099,500 777,000

Equity and Liabilities

Share capital – ordinary ($1 par) $ 361,500 123,000

Bonds Payable 292,500 307,500
Accounts Payable 75,000 105,000
Accrued expense payable 22,500 0
Retained earnings 348,000 241,500
Totals 1.099.500 777,000

ANNA COMPANY
Income Statement
For the Year Ended December 31, 2019
($ in thousands)
Sales revenue $ 1,500,000
Cost of goods sold $ 825,000
Operating expenses 331,500
Interest expense 22,500
Loss on disposal of plant assets 1,500 (1,180,500)
Income before income taxes 319,500
Income tax expenses (147,500)
Net Income $172,500

Additional Information (all amounts in thousands of $)

1) Operating expenses include depreciation expense of $34,500.
2) Equipment with a cost of $63,000 and a book value of $67,500 was sold for $66,000
cash.
3) Land was sold at its book value for cash.
4) Interest expense of $22,500 was paid in cash.
5) Equipment with a cost of $250,500 was purchased for cash.
 6) Bonds of $15,000 were redeemed at their face value for cash.
7) Ordinary shares ($2 par) of $75,750 were issued for cash.
8) Cash dividends of $66,000 were declared and paid in 2019.
9) Ordinary shares of $75,000 were issued in exchange for land.

Instruction :
Prepare a statement of cash flow using the indirect method!