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The comparative statement of financial position of Marigold Corporation as at December 3 1 , 2 0 2 3 , follows: Statement of Cash Flows

The comparative statement of financial position of Marigold Corporation as at December 31,2023, follows: Statement of Cash Flows
For the Year Ended December 31,2023
Cash Flows from Operating Activities
Adjustments to reconcile net income to
net cash provided by operating activities:
Depreciation Expense
Gain on Disposal of Equipment
Increase in Accounts Receivable
Increase in Accounts Payable
Proceeds from Sale of Equipment
Purchase of Equipment
Net Cash Used by Investing Activities
Cash Flows from Financing Activities
Payment of Cash Dividends
Issuance of Common Shares
Net Cash Provided by Financing Activities
Cash at Beginning of Year
Net income of $36,300 was reported and dividends of $12,800 were declared and paid in 2023. New equipment was purchased, and
equipment with a carrying value of $4,800(cost of $11,800 and accumulated depreciation of $7,000) was sold for $7,700.
Prepare a statement of cash flows using the indirect method for cash flows from operating activities. Assume that Marigold prepares
financial statements in accordance with ASPE. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g.
(15,000).
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