Following information relate to Hawke Ltd for the financial year...

Following information relate to Hawke Ltd for the financial year ended 2020

Hawke Ltd 

Statement of Financial position 

As at 30 June 2020 

2020 2019

Assets

Cash at bank 84200 100000 

Accounts receivable 208000 172000 

Inventory 200000 208000 

Prepaid insurance 12000 20000 

Interest receivable 400 600 

Investments 80000 40000 

Plant and equipment 800000 720000 

Less: Accumulated depreciation -200000 -180000 

Total assets 1184600 1080600 

Liabilities 

Accounts payable 152000 128000 

Provision for employee benefits 24000 16000 

Other expenses payable 8000 12000 

Equity 

Share capital 800000 800000 

Retained earnings 200600 124600 

Total liabilities and equity 1184600 1080600

Hawke Ltd 

Statement of Financial performance 

For the period ended 30 June 2020

2020

Income 

Sales revenue $1,920,000 

Interest revenue on investments $4,000 $1,924,000 

Less: Expenses 

Cost of sales $1,344,000 

Employee expenses $260,000 

Insurance expense $32,000 

Loss on sale of equipment $8,000 

Depreciation expense - plant and equipment $80,000 

Other expenses $44,000 $1,768,000 

Profit for the year $156,000 

Additional information 

The loss on sale of equipment relates to an item that originally cost $80 000 and had a carrying amount 

of $20000 when sold. 

Calculate the following: 

Cash collected from customers.

Cash paid to suppliers.

Cash paid to employees for wages and salary

Cash spent on plant and equipment.

Proceeds from sale of equipment.

Cash paid for insurance.