SIMBA LTD
Comparative Statement of financial positions
30 June
Assets
Cash
Net Accounts receivable
Inventories
Prepaid expenses
Investments
Plant assets
Accumulated depreciation
Total
Liabilities and Equity
Accounts payable
Accrued expenses payable
Notes payable
Ordinary shares
Retained earnings
Total
2017
2016
$ 72,000
$ 35,000
85,000
53,000
120,000
132,000
19,000
25,000
90,000
75,000
310,000
250,000
(65,000)
(60,000)
$631,000
$510,000
$ 93,000
$ 75,000
29,000
24,000
130,000
160,000
245,000
170,000
134,000
81,000
$631,000
$510,000
SIMBA LTD
Income Statement
for the year ended 30 June 2017
Sales
Less:
Cost of Sales
Operating expenses (excluding depreciation)
Depreciation expense
Income taxes
Interest expense
Loss on sale of plant assets
Net income
$480,000
$290,000
60,000
17,000
15,000
18,000
3,000
403,000
$ 77,000
Additional information:
1. New plant assets costing $85,000 were purchased for cash in 2017.
2. Old plant assets costing $25,000 were sold when book value was $13,000.
3. Notes with a face value of $30,000 were converted into $30,000 of ordinary shares.
4. A cash dividend was declared and paid during the year.
5. Accounts payable pertain to merchandise purchases.
REQUIRED:
Complete the following cash flow statement.
