0 Question 7 of 9 -/5 View Policies Current Attempt in Progress Following is the comparative statement of financial position for Sarasota Corporation Sarasota Corporation Statement of Financial Position As at December 31 Assets 2021 2020 Cash $601.000 $300,150 Accounts receivable 150,050 175,600 751,100 500.550 Merchandise inventory Prepaid operating expenses 25,350 30,700 FV-Nl investments 350,650 250,650 Equipment 1,875,750 1,800,750 Question 7 of 9 -/5 Merchandise inventory 751,100 500,550 Prepaid operating expenses 25,350 30,700 FV-Nl investments 350,650 250,650 Equipment 1.875,750 Less: Accumulated depreciation (149,050 $3,604,850 1,800, 750 (80,000 $2,978,400 Liabilities and Shareholders' Equity Accounts payable $225,300 $200,650 25,150 30,700 Income tax payable 100,700 250,150 Bonds payable 1,401.550 1,200,600 Common shares 1.852. 150 1.296,300 Retained earnings Question 7 of 9 - 5 Bonds payable 100,700 Common shares 250, 150 1,200,600 1,401,550 Retained earnings 1,852, 150 1,296,300 $3,604,850 $2.978,400 During 2021, Sarasota Corporation carned a profit of $680,850 Depreciation expense was $113,100. Equipment was sold at a gain of $20,850 Prepare the operating activities section of the statement of cash flows, using the indirect method (Show amounts that decrease cash flow with either a-sign e.g. - 15,000 or in parenthesis e.g. (15,000)) Sarasota Corporation Partial Statement of Cash Flows Question 7 of 9 0 02:42:21 Kantor ZUOJU - 15 Prepare the operating activities section of the statement of cash flows, using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis c.8. (15.000j.) Sarasota Corporation Partial Statement of Cash Flows Adjustment to reconcile proht to net cash provided by operating activities: TEAU Question 7 of 9 -/5 Adjustment to reconcile pronto net cash provided by operating activities: > > Question 7 of 9 -15 E C . > Attempts: 0 of 1 used Submit Answer Save for Later