CONDENSED INCOME STATEMENT 2017PBITLess interestProfit before taxLess taxPATAdd Retained Earning b/dTotal Profit for the YearLess Transfer to ReservesLess DividendsRetained Earning c/dRequired001. Prepare the cash flow statement for 2017(230,000)(85,000)(315,000)0(315,000)200,000(115,000)Note: During the year non-current asset costing $140,000 with a book value or $110,000 wassold at a profit of $20,000(115,000)2. Use appropriate items in the cash flow statement to comment ona. The state of liquidity in the companyb. The state of profitability in the company Diocese of Jamaica & the Cayman IslandsTHE CHURCH OF THE ASCENSION1A Daisy Avenue, Mona Heights, Kingston 6Church Office1 Palmetto AvenueKingston 6Tel.: (876) 977-4743December 29, 2021The ManagerPrime Trust Financial Corporation86 Half Way Tree RoadKingston 10Dear SirsST. MATTHEW'S MISSIONJacks Hill, St. AndrewRE: Miss Samantha DunkleyMiss Samantha Dunkley, whom I have known since 2009 when she worked with SpectrumInsurance Brokers, recently informed me of her application to your company for the post ofAssistant FX Trader.Yours truly,Rectory1 Palmetto AvenueKingston 6Tel.: (876) 977-2448During her stay at Spectrum, from my association with the company, I found her to be a verycongenial and diligent worker. She has also impressed me as a trustworthy individual whoshould be an asset to Prime Trust.Rev. Fr. Seymour BlackwoodRector's Assistant

The cash flow statement also indicates the cash generated or used by the business. The cash flow…

CONDENSED INCOME STATEMENT 2017 PBIT Less interest Profit before tax Less tax PAT Add Retained Earning b/d Total Profit for the Year Less Transfer to Reserves Less Dividends Retained Earning c/d Required 0 1. Prepare the cash flow statement for 2017 0 (230,000) (85,000) (315,000) 0 (315,000) 200,000 (115,000) Note: During the year non-current asset costing $140,000 with a book value or $110,000 was sold at a profit of $20,000 (115,000) 2. Use appropriate items in the cash flow statement to comment on a. The state of liquidity in the company b. The state of profitability in the company

CONDENSED INCOME STATEMENT 2017 PBIT Less interest Profit before tax Less tax PAT Add Retained Earning b/d Total Profit for the Year Less Transfer to Reserves Less Dividends Retained Earning c/d Required 0 1. Prepare the cash flow statement for 2017 0 (230,000) (85,000) (315,000) 0 (315,000) 200,000 (115,000) Note: During the year non-current asset costing $140,000 with a book value or $110,000 was sold at a profit of $20,000 (115,000) 2. Use appropriate items in the cash flow statement to comment on a. The state of liquidity in the company b. The state of profitability in the company

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter20: Corporations And Parterships

Section: Chapter Questions

Problem 59P

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