prepare a cash flow statement using indirect method

The comparative balance sheet for Blossom Adventures Ltd., a private company reporting under ASPE, follows: BLOSSOM ADVENTURES LTD. Balance Sheet December 31 Assets 2021 2020 Cash $29,670 $8,694 Accounts receivable 52,440 58,650 Inventory 110,400 118,680 Prepaid expenses 8,280 3,450 Land 34,500 51,750 Equipment 186,300 131,100 Accumulated depreciation (62,100) (27,600) $359,490 $344,724 Total assets Liabilities and Shareholders' Equity $29,670 $26,220 Accounts payable 5,175 3,450 Dividends payable 1,725 4,140 Income taxes payable Bonds payable 82,800 124,200 Common shares 142,830 115,230 Retained earnings 97,290 71,484 Total liabilities and shareholders' equity $359,490 $344,724 Additional information: 1. Profit for 2021 was $48,231. 2. Bonds payable of $41,400 were retired at maturity. ho Common shares were issued for $27,600. 3. 4. Land was sold at a loss of $6,900. 5. No equipment was sold during 2021. 6. Net sales for the year were $467,820. 7. Cost of goods sold for the year was $303,462. 8. Operating expenses (not including depreciation expense) were $55,200. 9. Interest expense was $3,450. 10. Income tax expense was $16,077. Prepare a cash flow statement using the indirect method. (Show amounts that decrease cosh flow with either a -sign e g. -15,000 or in parenthesis eg. (15,000).) BLOSSOM ADVENTURES LTD. Cash Flow Statement-Indirect Method $ N Adjustments to reconcile profit to $ dw