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Question 2 Statement of Cash Flows (17 marks) Orange Inc. had the following financial data related to the year ended December 31, 2021 Balance Sheet
Question 2 Statement of Cash Flows (17 marks) Orange Inc. had the following financial data related to the year ended December 31, 2021 Balance Sheet information As at December 31st 2021 2020 Cash $270.040 $138.880 Accounts receivable 136.360 58.800 Inventory 155.250 143.420 Equipment 351,000 291,000 Accumulated depreciation (65.000) (62.400) $847.650 S569.700 Accounts Payable Income Taxes Payable Dividends Payable Bonds Payable Common Shares Retained Earnings $106,393 11.450 33.607 100,000 282.000 314.200 $847.650 $ 80,760 10.400 10,000 132,000 198.000 138.540 $569.700 $479,892 Income Statement For Year ended December 31st Sales Cost of goods sold $161.644 Amortization expense 58.800 Other expenses 17.374 Income tax expense 10.185 Interest expense 5.822 Loss on sale of equipment 16.800 Net Income (270.625) $209.267 1. Equipment with an original cost of $75.100 was sold during the year. 2. New equipment was purchased during the year. 3. No stock dividends were declared during the year. 4. The company split its stock 3-for-1 during the year. Required Prepare a Statement of Cash Flows in good form using the indirect method for the year ended December 31, 2021. Provide all supporting calculations. (17 marks)
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