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Oriole Inc. Statement of Financial Position December 31 begin{tabular}{|c|c|c|} hline Assets & 2024 & 2023 hline Cash & $83,300 & $46,900 hline Accounts
Oriole Inc. Statement of Financial Position December 31 \begin{tabular}{|c|c|c|} \hline Assets & 2024 & 2023 \\ \hline Cash & $83,300 & $46,900 \\ \hline Accounts receivable & 81,500 & 36,500 \\ \hline Inventory & 131,000 & 101,000 \\ \hline Estimated inventory returns & 1,850 & 1,110 \\ \hline Long-term investments & 92,700 & 108,000 \\ \hline Equipment & 292,000 & 206,000 \\ \hline Accumulated depreciation & (49,900) & (39,700) \\ \hline Total assets & $632,450 & $459,810 \\ \hline \multicolumn{3}{|l|}{ Liabilities and Shareholders' Equity } \\ \hline Accounts payable & $62,200 & $48,500 \\ \hline Property tax payable & 11,200 & 18,400 \\ \hline Refund liability & 860 & 760 \\ \hline Bank loan payable-current portion & 126,000 & 59,700 \\ \hline Bank loan payable-non-current portion & 13,900 & 9,900 \\ \hline Common shares & 239,000 & 201,000 \\ \hline Retained earnings & 179,290 & 121,550 \\ \hline Total liabilities and shareholders' equity & $632,450 & $459,810 \\ \hline \end{tabular} E SUPPORT Additional information regarding 2024: 1. Long-term investments were sold for $4,500, resulting in a realized loss of $10,800. 2. New equipment costing $142,000 was purchased for $71,700 cash and a $70,300 bank loan payable. 3. Equipment costing $56,000 was sold for $15,500, resulting in a gain of $8,100. 4. Accounts payable relate to merchandise suppliers; property tax payable relates to operating expenses. 5. A dividend was paid during the year. 6. Operating expenses include $58,800 of depreciation expense and an $8,100 gain on disposal of equipment. 7. The company issued common shares for $60,000 cash and bought back and retired some other common shares at the cost they were originally issued at. ORIOLE INC. Statement of Cash Flows For the Year Ended December 31, 2024 Cash Flows from Operating Activities Net Income $ 83010 Cash Payments $ $ 00 cash and issuing a bank loan payable for $70,300
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