ORIOLE CORPORATION Balance Sheet December 31 Assets 2021 2020 Cash $15,160 $11,350 Accounts receivable 22,470 24,800 Land 21,200 27,560 Buildings 74,200 74,200 Accumulated depreciation-buildings (15,900) (10,600) Total $117,130 $ 127,310 Liabilities and Shareholders' Equity. Accounts payable $13,110 $32,970 Common shares 79,500 73,140 Retained earnings 24,520 21,200 Total $117,130 $127,310 Additional information: 1. Profit was $23,990. Dividends declared and paid were $20,670. 2. No noncash investing and financing activities occurred during 2021. 3. The land was sold for cash of $5,190 resulting in a loss of $1,170 on the sale of the land. Prepare a cash flow statement for 2021 using the indirect method. Lu Corporation reports under ASPE. (Show amounts that decrease cash flow with either a - sign e.g. -15,000, or in parenthesis e.g. (15,000)). ORIOLE LIMITED Cash Flow Statement-Indirect method Year Ended December 31, 2021 Operating Activities Profit $ 23,990 Adjustments to reconcile profit to Net Cash Used by Operating Activities Loss on Sale of Land $ 1,770 Depreciation Expense 5,300 Decrease in Accounts Receivable v 2,330 Decrease in Accounts Payable 19.860 11,060 Net Cash Provided by Operating Activities 12,930 Net Cash Used by Investing Activities Sale of Land $ 5190 Net Cash Provided by Investing Activities 5190 Net Cash Used by Financing Activities Issue of Common Shares $ 6,360 Payment of Cash Dividends 20,670 Net Cash Provided by Financing Activities 14,310 Net Increase in Cash 3,810 Cash, January 1 11,350 Cash, December 31 $ 15,160