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The statement of income and unclassified statement of financial position for Oriole Inc. follow: \begin{tabular}{lrr} Bank loan payable-non-current portion & 13,900 & 9,900 \\ Common shares & 239,000 & 201,000 \\ Retained earnings & 179,290 & 121,550 \\ & & $459,810 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{\begin{tabular}{l} Oriole Inc. \\ Statement of Income \\ Year Ended December 3 2024 \end{tabular}} \\ \hline Sales & & $315,000 \\ \hline Cost of goods sold & & 98,800 \\ \hline Gross profit & & 216,200 \\ \hline Operating expenses & & 82,000 \\ \hline Income from operations & & 134,200 \\ \hline Other income and expenses & , & \\ \hline Interest expense & $13,000 & \\ \hline Realized loss on sale of long-term investments & 10,800 & 23,800 \\ \hline Income before income tax & & 110,400 \\ \hline Income tax expense & & 27,390 \\ \hline Net income & & $83,010 \\ \hline \end{tabular} 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. (a) Prepare the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a - sign es. 15,000 or in parenthesiseg. (15,000). Cash, January 1, 2024 Cash, December 31, 2024 Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash (Chapters Cash Receipts from Customers Decrease in Accounts Payable Decrease in Accounts Receivable Decrease in Deferred Revenue Decrease in Estimated Inventory Returns Decrease in Inventory Decrease in Prepaid Expenses Decrease in Refund Liability Depreciation Expense For income Taxes For Interest For Other Operating Expenses Gain on Disposal of Equipment Increase in Accounts Payable Increase in Accounts Receivable Increase in Deterted Revenue Increase in Estimated Inventory Returns Increase in inventory Increase in Prepaid Expenses Increase in Refund Liability issue of Common Shares Loss on Disposal of Equipment Net income Payment of Cash Dividends Proceeds from Disposal of Equipment Proceeds from Sale of Long-term investments Purchase of Equipment Purchase of Land Repayment of Bank Loan Payable Repurchase of Common Shares Sale of Land To Suppliers Unrealized Gain on Trading Irvostments mileureasintuwes $ 14 $ \begin{tabular}{l} \\ \hline+ \\ 5 \end{tabular} issuing a bank loan payable for $70,300
