Information from the Balance Sheet and Income Statement for Culver Inc., a private company reporting under ASPE, for the year ended December 31, is given below.

Comparative Balance Sheet
		2021			2020
Cash		$ 98,000			$ 45,650
Accounts receivable		90,600			35,650
Inventory		121,400			102,050
Investments in land		84,500			106,650
Property, plant, and equipment		284,600			200,500
Accumulated depreciation		(47,510)			(38,500)
		$631,590			$452,000
Accounts payable		$52,100			$47,810
Accrued expenses payable		11,100			18,910
Bonds payable		140,000			67,500
Common shares		250,000			190,000
Retained earnings		178,390			127,780
		$631,590			$452,000
Revenues
Sales					$284,000
Gain on disposal of equipment					7,500
					291,500
Expenses
Cost of goods sold		$ 95,400
Depreciation expense		55,600
Operating expenses		13,770
Income tax expense		36,300
Interest expense		2,610			203,680
Profit					$ 87,820

Additional Information:
1.		Investments in land were sold at cost during 2021.
2.		Equipment costing $54,600 was sold for $15,510, resulting in a gain.
3.		Common shares were issued in exchange for some equipment during the year. No other shares were issued.
4.		The remaining purchases of equipment were paid for in cash.

Prepare a Cash Flow Statement for the year ended December 31, 2021 using the indirect method.

30 LI! Information from the Balance Sheet and Income Statement for Culver Inc., a private company reporting under ASPE, for the year ended December 31, is given below. Comparative Balance Sheet 2020 Cash Accounts receivable Inventory Investments in land Property, plant, and equipment Accumulated depreciation 2021 $ 98,000 90,600 121,400 84,500 284,600 (47,510) $631,590 $52,100 11,100 140,000 250,000 178,390 $631,590 $ 45,650 35,650 102,050 106.650 200,500 (38,500) $452,000 $47,810 18,910 Accounts payable Accrued expenses payable Bonds payable Common shares Retained earnings 67,500 190,000 127,780 $452,000 Question 15 of 16 Revenues Sales Gain on disposal of equipment $284,000 7,500 291,500 Expenses Cost of goods sold Depreciation expense Operating expenses Income tax expense Interest expense Profit $ 95,400 55,600 13,770 36,300 2,610 203,680 $ 87,820 Additional Information: 1. Investments in land were sold at cost during 2021. 2. Equipment costing $54,600 was sold for $15,510, resulting in a gain. 3. Common shares were issued in exchange for some equipment during the year. No other shares were issued. The remaining purchases of equipment were paid for in cash. 4. reuse cus flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) CULVER INC. Cash Flow Statement - Indirect Method V $ Adjustments to reconcile profit to $ Question 15 of 16 -/30