Question 18 of 20

Additional information: 1. Investments in land were sold at cost during 2024 2. Equipment costing \\( \\$ 61,600 \\) was sold for \\( \\$ 17,105 \\), resulting in a gain. 3. Common shares were issued in exchange for some equipment during the year. No other shares were issued. 4. The remaining purchases of equipment were paid for in cash. Note \\( X \\) : Significant noncash investing and financing activities: Equipment with a cost of \\( \\$ \\) Was purchased in exchange for common shares. Attempts: 0 of 1 used Preparea cash flow statement for the vear ended December 31, 2024, using the indirect method, (Show amount that decreose cosh flaw with either a-sign eg-15,000 or in parenthesis es. \\( (15,000) \\) ) Information from the balance sheet and income statement is given below for Monty Ink, a private compary reporting under ASPE, for the vear ended December 31 . \\begin{tabular}{lrr} Accrued expenses payable & 13,310 & 20,715 \\\\ Bonds payable & 154,000 & 77,000 \\\\ Common shares & 275,000 & 220,000 \\\\ Retained earnings & 193,160 & 133,965 \\\\ & \\( \\$ 693,440 \\) & \\( \\$ 504,790 \\) \\\\ \\hline \\end{tabular} Revenues Sales \\( \\begin{array}{r}\\$ 327,250 \\\\ 9,625 \\\\ \\hline 336,875\\end{array} \\) Expenses Cost of goods sold \\[ \\$ 109,405 \\]