Can you help me with this question? Referring to balance sheet and income statement of Sitra Co. below, prepare the cash flow fromoperating activities as one of the components of cash flow statement (5 marks)(Note: It's NOT required to prepare cash flow investing and financing activities)Sitra CompanyComparative Balance SheetsDecember 31st, FY 2021 and FY 2020FY 2021 FY 2020 ChangeCashReceivables85,00035,0005000058,90048,90010000InventoryPrepaid ExpensesPlant AssetsAccumulated depreciationIntangible assets-6000-3000440,000 340,000 10000054,00060,0006,0009,000(145,000)|(125,000) -20000-7000549,900 425,900 | 12400051,00058,000TOTAL ASSETS71,000 56,000 1500018,000 14,000Account PayableAccrued expenses4000Long-term note payable30,00030000Mortgage payable123,000 -123000Preferred stock175,000175000Common stockRetained earningsTotal Liabilities & Equity200,000 200,00055,900 32,900549,900 425,900 | 12400023000Sitra CompanyIncome StatementDecember 31st, FY 2021Sales665000Cost of Good Sold|-350000Gross ProfitOperating ExpensesDepreciation & Amortization315000|-183000-45000Gain on Sale of AssetNet Income650093500Additional information1. Sitra company purchased an equipment duringthe year at cost of $ 75,0002. A production equipment was sold during the yearfor $ 44,0003. Dividends paid during year 2021 are $ 111,000Sitra CompanyStatement of Cash FlowDecember 31st, FY 2021Amount ($)Net incomeAdd (deduct)

Cash flow statement: Cash flow statement is one of the important and mandatory reports from the…

Referring to balance sheet and income statement of Sitra Co. below, prepare the cash flow from operating activities as one of the components of cash flow statement (5 marks) (Note: It's NOT required to prepare cash flow investing and financing activities) Sitra Company Comparative Balance Sheets December 31st, FY 2021 and FY 2020 FY 2021 FY 2020 Change Cash Receivables Inventory Prepaid Expenses 85,000 35,000 50000 58,900 48,900 54,000 60,000 10000 -6000 -3000 6,000 9,000

Referring to balance sheet and income statement of Sitra Co. below, prepare the cash flow from operating activities as one of the components of cash flow statement (5 marks) (Note: It's NOT required to prepare cash flow investing and financing activities) Sitra Company Comparative Balance Sheets December 31st, FY 2021 and FY 2020 FY 2021 FY 2020 Change Cash Receivables Inventory Prepaid Expenses 85,000 35,000 50000 58,900 48,900 54,000 60,000 10000 -6000 -3000 6,000 9,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 40E

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