F2 Accounts payable Notes payable Salaries and wages payable Income taxes payable Long term note payable Common shares Retained earnings Total liabilities and shareholders' equity $ 92.700 7.600 16,400 15,700 112.500 268 200 105,000 $ 616.100 5 81.000 11.900 8,700 19,700 130,100 268,200 61.400 $ 581.000 1 Additional information Net income for the fiscal year was $54.500 2 Equipment that cost $40,100 and was 70% depreciated was sold during 2021. for a gain of $3.500. 3 No patents were purchased or sold during the fiscal year The current Notes Payable are trade payables issued by Sandhill Ltd. for the purchase of inventory 4 Prepare the operating activities section of a statement of cash flows using the indirect format. (Show amicunts that decrease cash flow with either asmes -15,000 or in parenthesis es (15.000 Sandhill Ltd. Statement of Cash Floors View Policies Current Attempt in Progress Sandhill Ltd, which follows ASPE had the following comparative statement of financial position Sandhill Lid Comparative Statement of Financial Position December 31 Assets 2021 Cash $ 81,400 Accounts receivable 136.000 Inventory 80,200 Prepaid insurance 10,500 Equipment 302.000 Accumulated depreciation-equipment 174,700 Patents 82,700 Total assets $ 618.100 2020 $ 48,500 101.500 121.200 7.300 254.000 153.9001 102.400 5581.000 5 Liabilities and Shareholders' Equity Accounts payable 5 92.700 Notes payable 7600 Salaries and wages payable 16,400 Income taxes payable 15,700 Lone-term note payable 112500 81.000 11.900 8.700 c 6 TH C Adjustments to reconcile net income to net cash provided by operating activities: @ CR Type here to search