The comparative balance sheet for Wildhorse Adventures Ltd. a private company reporting under ASPE, follows: WILDHORSE ADVENTURES LTD. Balance Sheet December 31 Assets 2021 Cash $30,960 Accounts receivable 54.720 Inventory 115,200 Prepaid expenses 8.640 Land 36,000 Equipment 194.400 Accumulated depreciation (64.800) Total assets $375,120 Liabilities and Shareholders' Equity Accounts payable $30,960 Dividends payable 5.400 Income taxes payable 1.800 Bonds payable 86,400 Common shares 149,040 Retained earnings 101.520 Total liabilities and shareholders' equity $375,120 2020 $9,072 61.200 123,840 3,600 54,000 136,800 (28,800) $359,712 $27,360 3,600 4,320 129.600 120.240 74,592 $359.712 4. Additional information: 1. Profit for 2021 was $50.328. 2 Bonds payable of $43,200 were retired at maturity. 3. Common shares were issued for $28,800. Land was sold at a loss of $7.200. 5. No equipment was sold during 2021. Net sales for the year were $488,160. 7. Cost of goods sold for the year was $316,656, 8. Operating expenses (not including depreciation expense) were $57,600, Interest expense was $3,600 10. Income tax expense was $16.776. 6. 9. Prepare a cash flow statement using the indirect method. (Show amounts that decrease cash flow with either o - signes. 15,0 ngentbesi15.000 Prepare a cash flow statement using the indirect method. (Show amounts that decrease cash flow with either a-signeg. -15,000 or in parenthesis eg. (15,000).) WILDHORSE ADVENTURES LTD. Cash Flow Statement-Indirect Method Adjustments to reconcile profitto > > > > > > V $ $