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Prepare a complete statement of c as h flows for October 20 2 1 using the indire c t method based on the information and
Prepare a complete statement of cash flows for October 2021 using the indirect method based on the information and guidance provided. 2020 Sign Language Hearing Co Ltd Comparative Balance Sheet October 31, 2020, and 2021 2021 Assets Cash and cash equivalent 320,000 Accounts Receivable 180,000 Prepaid expenses 240,000 Equipment, net 350,000 Total Assets 1,090,000 Liabilities Accounts payable 305,000 Accrued liabilities 285,000 Bond payable 195,000 Stockholders' Equity: Common Stock 95,000 Retained earnings 350,000 Treasury stock (140,000) Total liabilities and stockholders' equity 1,090,000 275,000 240,000 220,000 210,000 945,000 285,000 305,000 95,000 55,000 255,000 (50,000) 945,000 852,500 Sign Language Hearing Co Ltd Income Statement Year Ended October 31,2021 Revenues and gains: Sales revenue 850,000 Gain on sale of equipment Interest revenue 2,500 Total revenues and gains Expenses Cost of goods sold 465,5001 Salary expense 65,500 Depreciation expense 24,000 Rent expense 49,500 Loss on sale of equipment 2,500 Total expenses Income before income taxes Income tax expense Net Profit 607,000 245,500 38,000 207,500 Notes Purchase of equipment Cash receipt from sale of equipment Issuance of bonds payable to borrow cash Cash receipt from issuance of common stock Dividend paid Book value of equipment sold Purchase of treasury stock 243,000 76,500 100,000 40,000 112,500 79,000 90,000
Prepare a complete statement of cash flows for October 2021 using the indirect method based on the information and guidance provided.
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