Question 12

Vancouver Canucks Co. provided the following partial information regarding cashflows: 2022 2021 Assets Cash $ Inventory Furniture Accumulated Depreciation Total Assets $ 219,000 130,000 35,000 314,000 $ 18,000 168,000 163,000 45,000 304,000 $ 2021 Liabilities & Shareholders' Equity Bank overdraft Accounts Payable $ 2022 10,000 $ 68,000 45,000 - Net Income for 2022 was $32,000. - A piece of furniture was sold for $6,000 and a gain of $2,000 was recorded. - Depreciation for the year was $19,000. Required: You are tasked with providing information for the creation of the operating section of the cash flow statement using the indirect method. For the following items, provide the amount of the adjustment to reconcile net income to net cash provided or used by operating activities. If you believe the item would not be reconciled in the operating section of an indirect cashflow statement, please select the 'not utilized' option. a) Depreciation Expense: b) Gain on furniture disposal: c) Proceeds from furniture disposal: c) Change in Inventory: d) Change in accounts payable: e) Change in bank overdraft: Additional Question: f) Given the information above, what is the net cash provided/used by operating activities (a positive number is 'net cash provided' a negative number is 'net cash used')