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Animals R Us Ltd. had net income of $247,800 for the year ended March 31, 2021. Animals had the following balance sheet information as at
Animals R Us Ltd. had net income of $247,800 for the year ended March 31, 2021. Animals had the following balance sheet information as at March 31, 2021. 2021 2020 Change Assets Cash $ 607,800 $ 300,000 $307,800 Accounts receivable 270,000 525,000 (255,000) Short-term investments 690,000 480,000 210,000 Inventory 3,504,000 3,135,000 369,000 Property and equipment 1,320,000 1,200,000 120,000 Accumulated depreciation (1,140,000) (840,000) (300,000) Intangible assets 400,000 400,000 Accumulated amortization (112,000) (71,500) (40,500) $ 5,539,800 $5,128,500 Liabilities and Equity Accounts payable $ 823,500 $ 757,500 $ 66,000 Income taxes payable 40,500 63,000 (22,500) Mortgage payable 270,000 840,000 (570,000) Bonds payable 1,350,000 600,000 750,000 Common shares 2,400,000 2,400,000 Retained earnings 655,800 468,000 187,800 $ 5,539,800 $ 5,128,500 Additional Information: 1. Equipment was purchased for $600,000. 2. Land with a cost of $480,000 was sold for cash proceeds of $330,000. 3. Short-term investments are recorded at their cost. 4. Assume any other changes from the prior year are from logical sources. Required: Time left 1:56:02 Using the indirect method, determine Animal's cash flows from operating, investing, and financing activities for the year ended March 31, 2021. Please round your numerical answers to the nearest whole number. Prease note subtractions and negative cashflows as negative. For example, if net cashflows used in financing activities are -$40,000, please enter -40000. DO NOT USE PARENTHESES. Operating Activities Net Income Adjustments: $ 247,800 Changes in Working Capital: Cash from operations Operating Activities Supporting Work: Investing Activities Cash from investing Investing Activities Supporting Work: Financing Activities Operating Activities Supporting Work: Investing Activities > Cash from investing Investing Activities Supporting Work: Financing Activities Cash from financing Financing Activities Supporting Work
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