CAOVEUR Question 5 of 6 < > View Policies Current Attempt in Progress Blossom Corporation's comparative balance sheet is presented below BLOSSOM CORPORATION Balance Sheet December 31 Assets 2024 2023 Cash $11,440 $8,560 Accounts receivable 16,960 18.720 Land 16,000 20,800 Building 56,000 56.000 Accumulated depreciation-building (12.000) (8,000) Total $88,400 $96.000 Liabilities and Shareholders' Equity Accounts payable $9,900 $24.880 -/25 Question 5 of 6 < > Total Liabilities and Shareholders' Equity $88,400 $96,080 Accounts payable $9.900 $24.880 Common shares 60,000 $5,200 Retained earnings 18,500 16,000 Total $88,400 $96,080 Additional information: 1. Profit for the year was $18.100. Dividends declared and paid were $15,600 2 No noncash investing and financing activities occurred during 2024 32 The land was sold for cash of $3.920. resulting in a loss of $880 on the sale of the land -/25 Prepare a cash flow statement for 2024 using the indirect method. Blossom Corporation reports under ASPE (Show amounts that decrease cash flow with either a-sign eg.-15,000, or in parenthesis e.g. (15,000 Question 5 of 6 < -/25 E Prepare a cash flow statement for 2024 using the indirect method. Blossom Corporation reports under ASPE. (Show amounts that decrease cash flow with either a sign eg -15,000, or in parenthesis eg. (15,000). BLOSSOM CORPORATION Cash Flow Statement Adjustments to reconcile profit to C Question 5 of 6 > -/25 !!!