Current Attempt in Progress The comparative balance sheet for Cullumber Adventures Ltd., a private company reporting under ASPE, follows: CULLUMBER ADVENTURES LTD. Balance Sheet December 31 Assets 2021 2020 Cash $33,540 $9,828 Accounts receivable 59,280 66,300 Inventory 124,800 134,160 Prepaid expenses 9,360 3,900 Land 39,000 58,500 Equipment 210,600 148,200 Accumulated depreciation (70,200) (31,200) Total assets $406.380 $389,688 Liabilities and Shareholders' Equity Accounts payable $33,540 $29,640 3,900 Dividends payable 5.850 Income taxes payable 1,950 4,680 Bonds payable 93,600 140,400 Common shares 161.460 130,260 Retained earnings 109,980 80,808 Total liabilities and shareholders' equity $406,380 $389,688 Additional information: 1. Profit for 2021 was $54,522. 2. Bonds payable of $46,800 were retired at maturity. 3. Common shares were issued for $31,200. 4. Land was sold at a loss of $7,800. 5. No equipment was sold during 2021. 6. Net sales for the year were $528,840. 7. Cost of goods sold for the year was $343,044. 8. Operating expenses (not including depreciation expense) were $62,400. 9. Interest expense was $3,900. 10. Income tax expense was $18,174. Prepare a cash flow statement 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).) CULLUMBER ADVENTURES LTD. Cash Flow Statement-Indirect Method $ Adjustments to reconcile profit to $ >