Question 7 of 34 Blossom Ltd, which follows ASPE had the following comparative statement of hinancial position: Blossom Ltd. Comparative Statement of Financial Position December 31 2021 Cash 82,000 Accounts receivable 136,500 Inventory 79,500 Prepaid insurance 10,200 Equipment 303,000 Accumulated depreciation-equipment (70,000) Total assets $ 541,200 Llabilities and Shareholders' Equity Accounts payable $ 90,200 Salaries and wages payable 14,200 Income taxes payable 18,200 Mortgage payable 112,200 Common shares 232,500 Retained earnings 73,900 Total liabilities and shareholders' equity $ 541,200 2020 $ 50,600 101,100 121,900 8,200 274,000 (48,000) $ 507,800 74,300 7,700 20,200 122,500 210,000 73,100 $ 507,800 Question 7 of 1 -15 Additional information: . Net Income was $57,300. New equipment was purchased and none was sold. Common shares were issued for cash. Cash dividends were paid to common shareholders. . Prepare the statement of cash flows using the indirect format. (Show amounts that decrease cash flow with either a-signes -15,000 or In parenthesis es. (15,000).) Blossom Ltd. Statement of Cash Flows Adjustments to reconcile net income to net cash provided by operating activities: Question of 34 - 15 E Adjustments to reconcile net income to net cash provided by operating activities: