The comparative statements of financial position for Amaral Reis Company as of December 31 are presented below. Amaral Reis Company Comparative Statements of Financial Position 31 2014 2013 R$146A20 136,220 Equipment 155,670 230,220 Accumulated depreciation-equipment ,450 (37,400) Buldings 199,190 199.190 Accumulated depreciation-buildings (61,690) (39,010) Prepaid expenses 13,740 26,640 Inventory 148,860 145,650 Accounts receivable 40,640 64,770 58,680 49,500 Total R$731,610 R$701,230 Equity and Liabilities Share capital-ordinary, R$1 par R$189,930 R$159,730 Retained earnings 195,230 201,630 Bonds payable 300,000 300,000 Accounts payable 46,450 39,870 Total R$731,610 R$701,230 Additional information: 1. operating expenses include depreciation expense of R$39,010. 2. Land was sold for cash at book value of R$20,000. 3. Cash dividends of R$52,330 were paid. 4. Net income for 2014 was R$45,930. s Equipment was purchased for R$95,850 cash. In addition, equipment costing R$21,300 with a book value of R$12,020 was sold for R$5,140 cash 6. Issued 30,200 shares of $1 par value ordinary shares in exchange for land with a fair value of Prepare a statement of cash flows for the year ended December 1, 2014, using the indirect method. aniounts that decrease cash flow. either a sign e g or in parenthesis e g. (15 ooo 15.000 Cash Flows from et Income Adjustments to reconcile net income to Show transcribed image text The comparative statements of financial position for Amaral Reis Company as of December 31 are presented below. Amaral Reis Company Comparative Statements of Financial Position 31 2014 2013 R$146A20 136,220 Equipment 155,670 230,220 Accumulated depreciation-equipment ,450 (37,400) Buldings 199,190 199.190 Accumulated depreciation-buildings (61,690) (39,010) Prepaid expenses 13,740 26,640 Inventory 148,860 145,650 Accounts receivable 40,640 64,770 58,680 49,500 Total R$731,610 R$701,230 Equity and Liabilities Share capital-ordinary, R$1 par R$189,930 R$159,730 Retained earnings 195,230 201,630 Bonds payable 300,000 300,000 Accounts payable 46,450 39,870 Total R$731,610 R$701,230 Additional information: 1. operating expenses include depreciation expense of R$39,010. 2. Land was sold for cash at book value of R$20,000. 3. Cash dividends of R$52,330 were paid. 4. Net income for 2014 was R$45,930. s Equipment was purchased for R$95,850 cash. In addition, equipment costing R$21,300 with a book value of R$12,020 was sold for R$5,140 cash 6. Issued 30,200 shares of $1 par value ordinary shares in exchange for land with a fair value of Prepare a statement of cash flows for the year ended December 1, 2014, using the indirect method. aniounts that decrease cash flow. either a sign e g or in parenthesis e g. (15 ooo 15.000 Cash Flows from et Income Adjustments to reconcile net income to
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