Condensed financial data follow forBlossomLtd. E-Perform reports under ASPE.

BLOSSOMLTD.

Balance Sheet

December 31

Assets20212020Cash

$115,890$47,000

Accounts receivable

77,400

42,800Inventory

127,20094,800

Prepaid expenses

38,600

27,100

Long-term investments

127,300

113,300

Property, plant, and equipment

265,900242,500

Accumulated depreciation

(57,000)(53,900

)Total assets$695,290$513,600Liabilities and Shareholders' EquityAccounts payable

$93,400

$76,500Accrued expenses payable

12,9006,300Notes payable

101,900137,200

Common shares

230,900167,300Retained earnings

256,190126,300Total liabilities and shareholders' equity$695,290$513,600

BLOSSOMLTD.

Income Statement

Year Ended December 31, 2021

Sales

$492,700

Cost of goods sold

187,700

Gross profit305,000

Operating expenses

$59,300

Depreciation expense

46,300

Loss on sale of equipment

7,270

112,870

Profit from operations

192,130

Other expenses

Interest expense

4,810Profit before income tax187,320Income tax expense

44,800Profit

$142,520

Additional information:

1.New equipment costing $80,300was purchased for $24,100cash and a $56,200note payable.

2.Equipment with an original cost of $56,900was sold at a loss of $7,270.

3.Notes payable matured during the year and were repaid.

4.A long-term investment was acquired for cash.

cash flow statement for the year using the indirect method.(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

BLOSSOMLTD.

Cash Flow StatementIndirect Method

Year Ended December 31, 2021

Month Ended December 31, 2021

December 31, 2021

Financing Activities

Net Cash Provided by Financing Activities

Net Decrease in Cash

Operating Activities

Net Increase in Cash

Net Cash Provided by Operating Activities

Investing Activities

Net Cash Used by Operating Activities

Cash, January 1

Net Cash Used by Investing Activities

Net Cash Used by Financing Activities

Cash, December 31

Net Cash Provided by Investing Activities

Increase in Accrued Expenses Payable

Purchase of Long-term Investments

Retirement of Note Payable

Sale of Equipment

Gain on Sale of Equipment

Increase in Income Taxes Payable

Sale of Common Shares

Decrease in Inventory

Decrease in Income Taxes Payable

Issuance of Notes Payable

Purchase of Equipment

Decrease in Accounts Receivable

Payment of Cash Dividends

Sale of Long-term Investments

Decrease in Accrued Expenses Payable

Payments for Operating Expenses

Increase in Accounts Payable

Increase in Prepaid Expenses

Depreciation Expense

Profit

Decrease in Prepaid Expenses

Collections from Customers

Payments for Taxes

Decrease in Accounts Payable

Payments to Suppliers

Loss on Sale of Equipment

Increase in Inventory

Increase in Accounts Receivable

$Adjustments to Reconcile Profit to

Net Cash Provided by Investing Activities

Investing Activities

Cash, December 31

Net Cash Provided by Operating Activities

Net Cash Used by Financing Activities

Net Cash Used by Investing Activities

Operating Activities

Net Cash Provided by Financing Activities

Net Decrease in Cash

Financing Activities

Net Cash Used by Operating Activities

Net Increase in Cash

Cash, January 1

Decrease in Income Taxes Payable

Decrease in Prepaid Expenses

Sale of Long-term Investments

Retirement of Note Payable

Profit

Sale of Common Shares

Purchase of Long-term Investments

Gain on Sale of Equipment

Decrease in Accrued Expenses Payable

Issuance of Notes Payable

Increase in Inventory

Purchase of Equipment

Loss on Sale of Equipment

Increase in Accrued Expenses Payable

Payments for Taxes

Sale of Equipment

Collections from Customers

Increase in Income Taxes Payable

Payment of Cash Dividends

Decrease in Inventory

Increase in Accounts Payable

Payments to Suppliers

Decrease in Accounts Payable

Depreciation Expense

Payments for Operating Expenses

Decrease in Accounts Receivable

Increase in Accounts Receivable

Increase in Prepaid Expenses

$

Sale of Common Shares

Profit

Increase in Accrued Expenses Payable

Decrease in Accrued Expenses Payable

Sale of Equipment

Sale of Long-term Investments

Loss on Sale of Equipment

Collections from Customers

Decrease in Accounts Receivable

Issuance of Notes Payable

Increase in Income Taxes Payable

Payments for Taxes

Decrease in Prepaid Expenses

Payments for Operating Expenses

Increase in Inventory

Gain on Sale of Equipment

Decrease in Income Taxes Payable

Payment of Cash Dividends

Decrease in Accounts Payable

Increase in Prepaid Expenses

Retirement of Note Payable

Decrease in Inventory

Purchase of Equipment

Increase in Accounts Receivable

Depreciation Expense

Increase in Accounts Payable

Payments to Suppliers

Purchase of Long-term Investments

Payments to Suppliers

Retirement of Note Payable

Depreciation Expense

Payment of Cash Dividends

Increase in Accounts Receivable

Decrease in Accounts Payable

Increase in Income Taxes Payable

Payments for Operating Expenses

Issuance of Notes Payable

Decrease in Accrued Expenses Payable

Decrease in Accounts Receivable

Gain on Sale of Equipment

Sale of Long-term Investments

Increase in Prepaid Expenses

Loss on Sale of Equipment

Sale of Common Shares

Sale of Equipment

Purchase of Equipment

Increase in Accrued Expenses Payable

Decrease in Income Taxes Payable

Decrease in Inventory

Increase in Inventory

Payments for Taxes

Decrease in Prepaid Expenses

Collections from Customers

Increase in Accounts Payable

Purchase of Long-term Investments

Profit

Decrease in Inventory

Sale of Long-term Investments

Collections from Customers

Decrease in Accrued Expenses Payable

Increase in Accrued Expenses Payable

Decrease in Income Taxes Payable

Issuance of Notes Payable

Payments to Suppliers

Payment of Cash Dividends

Purchase of Long-term Investments

Payments for Taxes

Retirement of Note Payable

Gain on Sale of Equipment

Decrease in Accounts Receivable

Increase in Income Taxes Payable

Increase in Accounts Receivable

Increase in Inventory

Increase in Prepaid Expenses

Decrease in Prepaid Expenses

Profit

Increase in Accounts Payable

Purchase of Equipment

Loss on Sale of Equipment

Depreciation Expense

Sale of Equipment

Decrease in Accounts Payable

Payments for Operating Expenses

Sale of Common Shares

Retirement of Note Payable

Decrease in Accounts Receivable

Loss on Sale of Equipment

Decrease in Prepaid Expenses

Sale of Equipment

Purchase of Equipment

Sale of Common Shares

Sale of Long-term Investments

Purchase of Long-term Investments

Increase in Accrued Expenses Payable

Increase in Accounts Payable

Increase in Accounts Receivable

Depreciation Expense

Increase in Prepaid Expenses

Decrease in Accounts Payable

Collections from Customers

Decrease in Accrued Expenses Payable

Increase in Income Taxes Payable

Decrease in Inventory

Increase in Inventory

Gain on Sale of Equipment

Payment of Cash Dividends

Profit

Issuance of Notes Payable

Payments for Taxes

Payments to Suppliers

Payments for Operating Expenses

Decrease in Income Taxes Payable

Loss on Sale of Equipment

Sale of Equipment

Decrease in Prepaid Expenses

Profit

Increase in Income Taxes Payable

Increase in Accounts Receivable

Decrease in Accounts Payable

Decrease in Inventory

Increase in Prepaid Expenses

Issuance of Notes Payable

Retirement of Note Payable

Payments to Suppliers

Depreciation Expense

Collections from Customers

Payment of Cash Dividends

Sale of Common Shares

Increase in Accounts Payable

Sale of Long-term Investments

Gain on Sale of Equipment

Decrease in Accrued Expenses Payable

Increase in Accrued Expenses Payable

Decrease in Income Taxes Payable

Increase in Inventory

Purchase of Long-term Investments

Decrease in Accounts Receivable

Payments for Taxes

Purchase of Equipment

Payments for Operating Expenses

Increase in Accounts Payable

Increase in Inventory

Sale of Equipment

Payments to Suppliers

Profit

Payment of Cash Dividends

Depreciation Expense

Sale of Long-term Investments

Increase in Accrued Expenses Payable

Increase in Income Taxes Payable

Sale of Common Shares

Decrease in Income Taxes Payable

Decrease in Accounts Payable

Purchase of Equipment

Decrease in Accrued Expenses Payable

Increase in Prepaid Expenses

Decrease in Prepaid Expenses

Retirement of Note Payable

Purchase of Long-term Investments

Increase in Accounts Receivable

Decrease in Accounts Receivable

Decrease in Inventory

Gain on Sale of Equipment

Collections from Customers

Issuance of Notes Payable

Loss on Sale of Equipment

Payments for Operating Expenses

Payments for Taxes

Net Cash Used by Investing Activities

Net Decrease in Cash

Operating Activities

Net Cash Used by Financing Activities

Financing Activities

Net Cash Used by Operating Activities

Net Cash Provided by Financing Activities

Net Cash Provided by Investing Activities

Net Increase in Cash

Investing Activities

Cash, January 1

Net Cash Provided by Operating Activities

Cash, December 31

Investing Activities

Operating Activities

Net Cash Provided by Financing Activities

Financing Activities

Net Increase in Cash

Net Cash Used by Operating Activities

Cash, January 1

Net Cash Used by Financing Activities

Cash Payments

Net Decrease in Cash

Net Cash Provided by Investing Activities

Net Cash Provided by Operating Activities

Net Cash Used by Investing Activities

Cash, December 31

Cash Receipts

Payments to Suppliers

Payment of Cash Dividends

Loss on Sale of Equipment

Payments for Operating Expenses

Profit

Increase in Accounts Payable

Increase in Inventory

Increase in Accounts Receivable

Decrease in Accounts Payable

Depreciation Expense

Sale of Long-term Investments

Purchase of Long-term Investments

Collections from Customers

Sale of Common Shares

Retirement of Note Payable

Increase in Prepaid Expenses

Issuance of Notes Payable

Sale of Equipment

Increase in Accrued Expenses Payable

Payments for Taxes

Increase in Income Taxes Payable

Decrease in Income Taxes Payable

Decrease in Accounts Receivable

Decrease in Accrued Expenses Payable

Decrease in Inventory

Decrease in Prepaid Expenses

Gain on Sale of Equipment

Purchase of Equipment

$

Sale of Long-term Investments

Increase in Accrued Expenses Payable

Issuance of Notes Payable

Gain on Sale of Equipment

Increase in Accounts Payable

Purchase of Equipment

Decrease in Accrued Expenses Payable

Increase in Income Taxes Payable

Payment of Cash Dividends

Decrease in Inventory

Increase in Accounts Receivable

Profit

Depreciation Expense

Increase in Prepaid Expenses

Decrease in Accounts Payable

Loss on Sale of Equipment

Sale of Equipment

Decrease in Income Taxes Payable

Payments to Suppliers

Increase in Inventory

Sale of Common Shares

Decrease in Prepaid Expenses

Purchase of Long-term Investments

Payments for Taxes

Collections from Customers

Retirement of Note Payable

Payments for Operating Expenses

Decrease in Accounts Receivable

Payments for Operating Expenses

Gain on Sale of Equipment

Decrease in Accounts Receivable

Sale of Long-term Investments

Decrease in Income Taxes Payable

Sale of Equipment

Decrease in Inventory

Depreciation Expense

Decrease in Prepaid Expenses

Decrease in Accounts Payable

Sale of Common Shares

Increase in Income Taxes Payable

Increase in Prepaid Expenses

Payment of Cash Dividends

Increase in Inventory

Retirement of Note Payable

Loss on Sale of Equipment

Increase in Accounts Receivable

Payments for Taxes

Increase in Accrued Expenses Payable

Issuance of Notes Payable

Payments to Suppliers

Increase in Accounts Payable

Decrease in Accrued Expenses Payable

Purchase of Equipment

Collections from Customers

Purchase of Long-term Investments

Profit

Cash, January 1

Investing Activities

Cash, December 31

Financing Activities

Net Cash Used by Operating Activities

Net Cash Provided by Operating Activities

Operating Activities

Net Cash Used by Investing Activities

Net Decrease in Cash

Net Cash Provided by Investing Activities

Net Increase in Cash

Net Cash Provided by Financing Activities

Net Cash Used by Financing Activities

Net Cash Used by Operating Activities

Net Cash Used by Investing Activities

Net Cash Provided by Financing Activities

Net Increase in Cash

Investing Activities

Cash, December 31

Net Cash Provided by Operating Activities

Net Cash Used by Financing Activities

Net Cash Provided by Investing Activities

Cash, January 1

Operating Activities

Financing Activities

Net Decrease in Cash

Depreciation Expense

Decrease in Accrued Expenses Payable

Issuance of Notes Payable

Retirement of Note Payable

Sale of Common Shares

Profit

Gain on Sale of Equipment

Payment of Cash Dividends

Sale of Equipment

Increase in Accounts Receivable

Increase in Accounts Payable

Decrease in Inventory

Loss on Sale of Equipment

Decrease in Accounts Receivable

Increase in Income Taxes Payable

Purchase of Long-term Investments

Payments for Taxes

Collections from Customers

Decrease in Accounts Payable

Purchase of Equipment

Decrease in Income Taxes Payable

Decrease in Prepaid Expenses

Payments for Operating Expenses

Sale of Long-term Investments

Increase in Inventory

Payments to Suppliers

Increase in Prepaid Expenses

Increase in Accrued Expenses Payable

$

Increase in Income Taxes Payable

Payments for Taxes

Increase in Accounts Payable

Payments for Operating Expenses

Issuance of Notes Payable

Increase in Inventory

Decrease in Accounts Receivable

Gain on Sale of Equipment

Increase in Accounts Receivable

Profit

Purchase of Long-term Investments

Collections from Customers

Loss on Sale of Equipment

Decrease in Accrued Expenses Payable

Decrease in Inventory

Decrease in Accounts Payable

Payment of Cash Dividends

Decrease in Prepaid Expenses

Sale of Common Shares

Increase in Accrued Expenses Payable

Sale of Equipment

Payments to Suppliers

Retirement of Note Payable

Decrease in Income Taxes Payable

Purchase of Equipment

Depreciation Expense

Increase in Prepaid Expenses

Sale of Long-term Investments

Sale of Equipment

Purchase of Equipment

Decrease in Prepaid Expenses

Depreciation Expense

Collections from Customers

Payments for Taxes

Retirement of Note Payable

Payments to Suppliers

Decrease in Inventory

Increase in Income Taxes Payable

Gain on Sale of Equipment

Payments for Operating Expenses

Profit

Purchase of Long-term Investments

Decrease in Accrued Expenses Payable

Increase in Prepaid Expenses

Decrease in Accounts Receivable

Sale of Common Shares

Loss on Sale of Equipment

Increase in Accrued Expenses Payable

Increase in Accounts Payable

Decrease in Income Taxes Payable

Payment of Cash Dividends

Decrease in Accounts Payable

Increase in Inventory

Sale of Long-term Investments

Increase in Accounts Receivable

Issuance of Notes Payable

Net Cash Used by Investing Activities

Net Cash Provided by Operating Activities

Net Cash Used by Financing Activities

Investing Activities

Net Cash Provided by Financing Activities

Cash, January 1

Financing Activities

Net Decrease in Cash

Net Cash Used by Operating Activities

Cash, December 31

Net Increase in Cash

Operating Activities

Net Cash Provided by Investing Activities

Net Cash Provided by Financing Activities

Cash, January 1

Net Cash Used by Investing Activities

Investing Activities

Net Cash Provided by Investing Activities

Net Cash Provided by Operating Activities

Net Cash Used by Operating Activities

Operating Activities

Net Decrease in Cash

Cash, December 31

Net Increase in Cash

Financing Activities

Net Cash Used by Financing Activities

Net Cash Provided by Operating Activities

Financing Activities

Net Cash Used by Investing Activities

Net Cash Used by Financing Activities

Investing Activities

Net Cash Used by Operating Activities

Cash, December 31

Net Decrease in Cash

Net Cash Provided by Financing Activities

Operating Activities

Net Cash Provided by Investing Activities

Cash, January 1

Net Increase in Cash

Net Cash Used by Operating Activities

Net Cash Used by Investing Activities

Net Decrease in Cash

Financing Activities

Net Cash Provided by Financing Activities

Net Cash Used by Financing Activities

Investing Activities

Net Increase in Cash

Net Cash Provided by Operating Activities

Net Cash Provided by Investing Activities

Cash, January 1

Operating Activities

Cash, December 31

$

Note X: Equipment was purchased by paying $cash and issuing a note payable for $.