LD Copy Paste BIU A Format IM HI Merge & Center Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? U24 fx D G TURUT HITO 31-Dec-22 7 31-Dec 2022 2021 9 Assets Cash $ 20,000 $ 38,000 11 Accounts receivable 85.000 74,000 12 Inventory 103.000 102.000 13 Prepaid expenses 2.000 6,000 14 FV-OC Investments 47.000 45,000 15 Equipment 173.000 159,000 16 Acoumated depreciation 135.000) 25.000) 17 To 390,000 5 300.000 13 19 Liabilities and Shareholders' Equity 20 Accounts payable $ 115.000 $ 100,000 Income tax payable 2.000 3.000 22 Dividends payable 5.000 Long-term les payable B4.000 119.000 24 Common shares 31,000 24 000 25 Retained earnings 148,000 144.000 26 Accumulated other comprehensive income 11,000 9.000 27 151298.000 5 399.000 28 29 Credit Valley in 30 Statement of Comprehensive Income 31 For the year ended 12/31/2022 32 33 Not sales $ 323,000 36 Cost of goods sold 175 000 35 Gross proft 148.000 36 Operating experes 120 000 37 Income from operations 28.000 Interest expense 9.000 Income before income tax 19,000 Income 6.000 Net Income 13,000 Over comprehensive como Unreared gain or bss-OCH 2.000 44 45 Comprehensive income $ 15,000 46 47 Required: 481 Prepare the SCF, using the Indirect method, using the template provided under the Excel tab titled Q1 Req 1 45 2. Prepare the operating section of the SCF only, using the direct method, using the template provided under the Excel tab titled QI Reg 2 50 si Additional information: 52 53. Credit Valley follows IFRS. Assume that interestis treated as an operating activity for purposes of the statement of cash fow. 56 55 b. Operating expenses include $10.000 in depreciation expense 56 57. There were no disposals of equipment during the year. 58 59 d. Common shares were issued for cash. 60 61. During the year Credit Valley acquired $8,000 of equipment in exchange for long-term notes payable 62 63 Assume unexplained changes in accounts stem from logical transactions. Q1 Rog1 QI Reg 2 az Data Analytics 01 Smt of Cash Flow Additional storation Select destination and press ENTER or choose Paste