Oriole, Inc. has prepared the following comparative balance sheets for 2020 and 2021:

2021 2020

Cash $ 282,000 $ 153,000

Accounts receivable 139,000 117,000

Inventory 150,000 180,000

Prepaid expenses 18,000 27,000

Plant assets 1,295,000 1,050,000

Accumulated depreciation (450,000) (375,000)

Patent 153,000 174,000

$1,587,000 $1,326,000

Accounts payable $ 153,000 $ 168,000

Accrued liabilities 60,000 42,000

Mortgage payable 450,000

Preferred stock 525,000

Additional paid-in capitalpreferred 120,000

Common stock 600,000 600,000

Retained earnings 129,000 66,000

$1,587,000 $1,326,000

Other info:

1. The Accumulated Depreciation account has been credited only for the depreciation expense for the period.

2. The Retained Earnings account has been charged for dividends of $138,000 and credited for the net income for the year.

3. Oriole bought $245,000 of plant assets for $245,000 in 2021 for cash.

4. Amortization of the patent is credited directly to the patent account.

The income statement for 2021 is as follows:

Sales revenue $1,980,000

Cost of sales 1,089,000

Gross profit 891,000

Operating expenses 690,000

Net income $ 201,000

Instructions

(a) From the information above, prepare a worksheet for the statement of cash flows (indirect method) for Oriole, Inc. for the year ended December 31, 2021.

(b) Write in the dollar amount of the cash flow from operating activities, the cash flow from investing activities, and the cash flow from financing activities. Make sure you write + in front of the numbers is this is a source of cash and put the number in parentheses if it is a use of cash.

(b) From the information above, prepare a schedule of cash provided by operating activities using the direct method.