ining Kramerica Limited's comparative balance sheets at October 31, 2021 follow: 2021 Cash Accounts receivable Inventory Buildings and equipment Accumulated depreciation 2020 $156,000 $155,000 510,000 480,000 664,000 622,000 1,605,000 1,610,000 (495.000) (480,000) $2,440,000$2,387,000 Accounts payable $275,000 $384,000 Interest payable 28,000 46,000 Income tax payable 30,000 20,000 Bonds payable 680,000 700,000 Common shares $1,000,000 $900,000 Retained earnings 427,000 337,000 $2,440,000$2,387,000 Additional information: Kramerica's income statement reported net income of $115,000. Included in that amount was a $5,000 gain on the retirement of bonds payable, a $5,000 loss on the disposal of equipment, and depreciation expense of $75,000. On June 15, 2021 equipment with a cost of $85,000 and a book value of $25,000 was sold for $20.000 680,000 700,000 Common shares $1,000,000 $900,000 Retained earnings 427,000 337,000 $2,440,000$2,387,000 Additional information: Kramerica's income statement reported net income of $115,000. Included in that amount was a $5,000 gain on the retirement of bonds payable, a $5,000 loss on the disposal of equipment, and depreciation expense of $75,000. On June 15, 2021 equipment with a cost of $85,000 and a book value of $25,000 was sold for $20,000. On May 1, 2021 Kramerica issued 5% bonds for a face value of $80,000. On July 31, 2021, bonds with a face value of $100,000 were retired for $95,000. On October 20, 2021 Kramerica declared and paid a common share cash dividend. Required: Prepare a statement of Cash Flows for Kramerica Limited for the year ending October 31, 2021 using the indirect method. Ignore supplemental disclosures. NOTE: Use the enclosed partially completed template to complete and submit your answer as a file upload. Save your response using the file format "Kramerica_1234567", with "1234567" replaced by your student number. Please be sure your file has properly uploaded before hitting submit. Kramerica Tamnato vley 10 KR / F G H H D B C KREMERICA LIMITED STATEMENT OF CASH FLOWS YEAR ENDED OCTOBER 31, 2021 1 2 3 4 5 6 Cash flows from operating activities Net income (loss) Adjustments to reconcile net income to net cash provided by (used for) operating activities 7 8 9 000 10 11 12 13 14 15 6 7 Cash fiows from investing activities ash flows from financing activities B7 fx Adjustments to reconcile net income to net G H D E B C 10 17 18 19 20 Cash flows from Investing activities 21 22 23 24 25 26 27 28 Cash flows from financing activities 29 30 31 2 3 4 SA F Net increase (decrease) in cash Cash, June 1, 2020 Cash, May 31, 2021
