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Please solve fast. urgent The statement of financial position for Blue Jays Co. is presented as follows: BLUE JAYS CO Statement of Financial Position December

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The statement of financial position for Blue Jays Co. is presented as follows: BLUE JAYS CO Statement of Financial Position December 31, Year 3 Year 3 Year 2 $ Assets Cash Accounts Receivable Inventory Equipment Accumulated Depreciation Total Assets 96,250 273,750 162,500 43,750 488,750 22,500 62,500 210,000 203,750 56,250 142,500 S s Liabilities & Shareholders' Equity Bank overdraft S 12, Sbo S Accounts Payable 85,000 56,250 Bank Loan Payable 112,500 128,750 Common Shares 62,500 75,000 Retained Earnings 216,250 182,500 Total Liabilities and Shareholders equity $ 488,750 S 442,500 Additional Information: 1. In year 3, net income was $40,000. 2. In year 3, depreciation expense was $23.750. 3. No cash from new bank loans was received in Year 3 4 No equipment was purchased in year 3 but Blue Jays Co sold some equipment for $2.500. This triggered a gain on disposal of $2,500 5. In year 3, no new common shares were issued, but Blue Jays Co did repurchase some at the cost they were originally issued. 6. Dividends were both declared and paid in year 3. Instructions: A) Prepare a statement of cashflows using the INDIRECT METHOD for year 3 (13 marks) B) ASSESS & ANALYZE the strengths and/or weaknesses of Blue Jays Co. cash flows for year 3. (2 marks)

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