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Selected accounts from the SFP of Norelco Limited at 31 December 20X4 and 20X5 are presented below. Norelco reported earnings
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Answer #1
Operating activities
Net earnings 283,000
Financing activities
Notes payable
As on 2004 710,500
New issue 141,700
852,200
As on 2005 - 455,800
Repayment of note payable - 396,400
Common shares
As on 2004 233,600
As on 2005 304,200
Cash received for common shares 70,600
Retained earnings on 2004 548,800
Net earnings 283,000
831,800
Retained earnings on 2005 - 619,000
Dividend paid for retained earnings - 212,800
Total - $255,600

Note payable for machinery = $141,700

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