Full working would be very much appreciated The following financial information

Question

Full working would be very much appreciated

The following financial information for UL Engineering Pte Ltd is as given below UL Engineering Pte Ltd Comparative Statement of Financial Position As at 31 December 20X1 and 20X2 20X1 20X2 Assets Current Cash Inventories Account receivable 145.600 624,000 302,900 137,800 533,000 526,500 Non-current Property, Plant & Equipment, net Total Assets 2,730,000 3,900.000 5,097,300 3.802,500 Liabilities Current 234,000 156,000 Accounts pavable 292,500 117,000 Income tax payable Non-current Bank loain 117,000

Explanation / Answer

STATEMENT OF CASH FLOWS Cash flows from operating activities: Net income (546000-156000) 390000 Adjustments to reconcile net income with cash flow from operating activities: Depreciation 162000 Decrease in inventories (624000-533000) 91000 Gain on sale of PPE -60000 Increase in acounts receivable (526500-302900) -223600 Decrease in accounts payable (292500-234000) -58500 Increase in income tax payable (156000-117000) 39000 -50100 Net cash used by operating activities 339900 Cash flows from investing activities: Purchase of PPE [3900000-2730000+240000+162000) -1572000 Sale of PPE (240000+60000) 300000 Cash flow from investing activities -1272000 Cash flow from financing activities: Common stock issued (4095000-3022500) 1072500 Repayment of bank loan -117000 Dividends paid = (253500+546000-156000-612300) -31200 Cash flow from financing activities 924300 Net increase in cash and cash equivalents -7800 Beginning balance of cash and equivalents 145600 Ending balance of cash and equivalents 137800

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