See all 3 attachments.

Bridgeport Inc. reported the following information at the end of its 2019 fiscal year. Bridgeport Inc. Statement of Financial Position As at April 30 Assets 2020 2019 Cash 207,000 155,000 Accounts receivable 115,000 97,000 Inventory 110,000 252,000 Prepaid operating expenses 18,000 13,000 Long term investments 187,000 84,000 Equipment 1,214,000 1,132,000 Less: Accumulated depreciation (372,000 (371,000 1,479,000 1,362,000 Liabilities and Shareholders' Equity Accounts payable 53,000 66,000 Income tax payable 28,000 24,000 Bonds payable 688,000 735,000 Common shares 298,000 248,000 Retained earnings 412,000 289,000 1,479,000 1,362,000 Bridgeport Inc. Income Statement For the year ended April 30, 2020 Sales revenue 1,106,000 Cost of goods sold 692,000 Gross profit 414,000 Operating expenses 228,000 Income from operations 186,000 Interest expense 4,200 Gain on disposal of equipment 3,300 Income before income tax 185,100 Income tax expense 18,410 Net income $166,690ADDITIONAL INFORMATION: Depreciation expense is included in "operating expenses." All accounts payable transactions were related to the purchase of inventory. During the year, a piece of equipment that originally cost $45,800 was sold for cash. The equipment was 70%% depreciated at the time of the sale. Long-term investments were purchased for cash during the year.Prepare a statement of cash flows, in good form, for Bridgeport Inc., using the indirect method and follows ASPE. (Show amounts that decrease cash flow with either a - sign eg. -15,000 or in parenthesis e.g. (15,000).) Bridgeport Inc. Statement of Cash Flows v Adjustment to reconcile net income to net cash provided by operating activities: