Current Attempt in Progress Condensed financial data follow for Blossom Ltd. Blossom reports under ASPE. BLOSSOM LTD. Balance Sheet December 31 Assets 2021 2020 Cash $110,920 $45,100 Accounts receivable 74,500 41,000 Inventory 117,500 91,150 Prepaid expenses 37,100 24,100 125,500 111,500 Long-term investments Property, plant, and equipment Accumulated depreciation 263,100 240,600 (45,000) (50,000) $503,450 Total assets $683,620 Liabilities and Shareholders' Equity $90,000 $75,100 Accounts payable Accrued expenses payable Notes payable 10,500 6,000 135,000 100,000 220,000 Common shares 166,000 Retained earnings 263,120 121,350 Total liabilities and shareholders' equity $683,620 $503,450 BLOSSOM LTD. Income Statement Year Ended December 31, 2021 Sales $490,100 Cost of goods sold 182.100 Gross profit 308,000 Operating expenses $57,000 Depreciation expense 44,100 Loss on sale of equipment 7,000 108.100 Profit from operations 199,900 Other expenses Interest expense 3,500 Profit before income tax 196,400 Income tax expense 42.000 Profit $154,400 Additional information: 1. New equipment costing $79,000 was purchased for $21,000 cash and a $58,000 note payable. 2. Equipment with an original cost of $56,500 was sold at a loss of $7,000. 3. Notes payable matured during the year and were repaid. 4. A long-term investment was acquired for cash. Prepare a 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).) COSITIOW Sulemenmuirect memo Year Ended December 31, 2021 Adjustments to Reconcile Profitto $ S