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unland Ltd$.,$ which follows ASPE, had the following comparative Statement of Financial Position:

Additional information:

Net income for the fiscal year was $$40,000.$

Equipment with an original cost of $$34,500$ and accumulated depreciation of $$12,500$ was sold for $$12,500$ cash during $2$

This disposal resulted in a $$9,500$ loss.

Prepare the operating activities section of a statement of cash flows using the indirect format. $($Show amounts that decrease cash flo

with either $a-$ sign e$.$g$.-15,000$ or in parenthesis e$.$g$.(15,000).)$

Sunland Ltd$.$

Adjustments to reconcile net income to

net cash provided by operating activities: