Question 16 of 18 -/15 View Policies Current Attempt in Progress Cullumber Ltd, which follows ASPE had the following comparative Statement of Financial Position Cullumber Ltd. Comparative Statement of Financial Position March 31 Assets 2021 2020 Cash 5 17,340 $ 12.240 Accounts receivable 61.200 40.800 Inventory 85.680 71.400 Prepaid expenses 6.120 4080 Property, plant and equipment 255,000 21.4.200 Accumulated depreciation 161.200 148.960 Total assets 51364,140 S293.780 Liabilities and Shareholders' Equity Accounts payable $ 35,700 $ 40,800 Interest payable 3,060 4.080 Income taxes payable 22.440 12.240 91,800 65.280 96.900 81.600 Bonds payable Common shares Retained earnings Total liabilities and shareholders' equity 114.240 89.760 $364,140 $ 293,760 Additional informations 1 2 Net income for the fiscal year was $38.760 Equipment with an original cost of $30,000 was sold for S12:240 cash during 2021. The equipment was depreciated $12.240. This disposal resulted in a $6.120 loss. Prepare the statement of cash flows using the indirect format. (Show ortioints that decrease cash flow with either a sign 15.000 or in parenthesis es. (15,000)) -/15 III Cullumber Ltd. Statement of Cash Flows For the Year Ended March 31, 2021 Cash Flows from Operating Activities Net Income / Loss 58780 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Expen $ Increase in Accounts Receiva incintory Incest income Decrease in Accounts Payable Decrease in interest Payable A $ Attempts: 0 of lused Sibelt Answer Save for Later