Question
1. Caronport Carpentry Shop Company's September 30, 2023 year-end presented the following information: 2023 2022 Cash $ Accounts receivable Merchandise inventory Long-term investments Equipment
1. Caronport Carpentry Shop Company's September 30, 2023 year-end presented the following information: 2023 2022 Cash $ Accounts receivable Merchandise inventory Long-term investments Equipment Accumulated depreciation, equipment -$ isssssss 125,125 $ 50,712 $ 25,585 $ 22,550 137,700 $ 110,292 83,640 $ 134,232 $ 299,710 $ 178,890 119,626 -$ 30,341 552,134 $ 466,335 Accounts payable Income taxes payable Bonds payable Common shares Retained earnings sssss 16,046 $ 10,098 $ 25,312 $ 17,892 62,080 $ 74,880 127,160 $ 102,920 $ 321,536 $ 260,545 $ 552,134 $ 466,335 Income Statement Sales (all on credit) $ 427,104 Cost of goods sold 127,699 Depreciation expense $ 114,986 Other operating expenses $ 71,103 Interest expense $ 9,778 Loss on sale of equipment $ 3,096 $ 326,662 Net income $ 100,442 Other relevant information: 1) New equipment was purchased for $160,056. 2) Old equipment with an original cost of $39,236 was sold for $10,439. 3) Additional shares were issued during the year. 4) There was no gain or loss on the long-term investments sold or the bonds retired. 5) Paid dividends of ___ during the year. REQUIRED: Prepare a statement of cash flows in good form, for the year ended September 30, 2023 using the indirect method. (16 marks) End of Assignment
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