2)

Net Loss ($36,000)

Depreciation $28,000

Increase in accounts receivable $35,000

Decrease in inventories $14,500

Increase in accounts payable $34,000

Decrease in income taxes payable $6,700

Decrease in wages payable $1,800

Proceeds on Sale of Equipment $380,000

Repayment of bonds $250,000

Issuance of Common shares $100,000

Proceeds on sale of land $150,000

Gain on sale of land $20,000

Payment of dividends $10,000

Prepare the cash flow from operations under ASPE!