Blossom Ltd., which follows ASPE had the following comparative statement of financial position: Blossom Ltd. Comparative Statement of Financial Position December 31 Assets 2021 2020 Cash 80,000 $ 45,000 Accounts receivable 135.000 100,000 Inventory 75,000 120,100 Prepaid insurance 9,500 7,500 Equipment 300,000 270.000 Accumulated depreciation-equipment (65.000 (48.000 Total assets $ 534,500 $ 494,600 Liabilities and Shareholders' Equity Accounts payable $ 88,000 $ 72,100 Salaries and wages payable 12,000 7.500 Income taxes payable 16.000 18,000 Mortgage payable 110.000 124.000 Common shares 220.000 200.000 Retained earnings 88.500 73,000 Total liabilities and shareholders' equity $ 534,500 $ 494,600 Additional information: . Net income was $56,000. New equipment was purchased and none was sold. . Common shares were issued for cash. . Cash dividends were paid to common shareholders. Prepare the statement of cash flows using the indirect format. (Show amounts that decrease cash flow with either a -5 In parenthesis eg. (15,000).) Blossom Ltd. Statement of Cash Flows $ Adjustments to reconcile net income to net cash provided by operating activities: $ A GA A LA S LA S S