The Kare Counseling Center was incorporated as a not-for-profit organization 10 years ago. Its adjusted trial balance as of June 30, 2023, follows. Credits Debits $ 111,500 42,900 $ 6,000 4,700 197,000 229,000 Cash Pledges Receivable Without Donor Restrictions Estimated Uncollectible Pledges Inventory Investments Furniture and Equipment Accumulated Depreciation-Furniture and Equipment Accounts Payable Net Assets Without Donor Restrictions Net Assets With Donor Restrictions-Programs Net Assets with Donor Restrictions-Permanent Endowment Contributions-Without Donor Restrictions Contributions with Donor Restrictions-Programs Investment Income-Without Donor Restrictions Net Assets Released from Restrictions with Donor Restrictions Net Assets Released from Restrictions without Donor Restrictions Salaries and Fringe Benefit Expense Occupancy and Utility Expense Supplies Expense Printing and Publishing Expense Telephone and Postage Expense Unrealized Gain on Investments Depreciation Expense Totals 129,500 22,420 198,400 52,400 159,060 350, 720 42,100 11,100 41,000 41,000 290, 310 40,300 8,840 6,090 5,400 3,900 39,500 $1,816,540 $1,616,540 1. Salarles and fringe benefits were allocated to program services and supporting services in the following percentages counseling services, 30 percent, professional training, 20 percent, community service, 10 percent management and general, 20 percent; and fundraising, 20 percent Occupancy and utility, supplies, printing and publishing, and telephone and postage expenses were allocated to the programs in the same manner as salaries and fringe benefits Depreciation expense was divided equally among all five functional expense categories 2. The organization had $175, 314 of cash on hand at the beginning of the year. During the year, the center received cash from contributors $302.700 that was unrestricted and $42,100 that was restricted for the purchase of equipment for the center It had $11,100 of income earned and received on long-term investments. The center spent cash of $290,310 on salaries and fringe benefits, $41.000 on the purchase of equipment for the center, and $88,404 for operating expenses Other pertinent information follows, net pledges receivable increased $4,600, inventory increased $3,500, accounts payable decreased $109,794, and there were no salaries payable at the beginning of the year. Exercise 14-27 (Algo) Part d Required d. Prepare a statement of cash flows for the year ended June 30, 2023 (List of cosh outflows should be indicated by a minus sign.) KARE COUNSELING CENTER Statement of Cash Flows Year Ended June 30, 2023 Cash Flows from Operating Activities: Net Cash Used for Operating Activities Cash Flows from Investing Activities Cash Flows from Financing Activities Proceeds from Contributions Restricted for 0 Net Decrease in Cash Cash, Beginning of year Cash, End of year $ 0 Reconciliation of Changes in Net Assets to Net Cash Used for Operating Activities Required information 0 Net Cash Used for Operating Activities Cash Flows from Investing Activities: Cash Flows from Financing Activities Proceeds from Contributions Restricted for Net Decrease in Cash Cash, Beginning of year Cash, End of year Reconciliation of Changes in Net Assets to Net Cash Used for Operating Activities Adjustments to Reconcile Changes in Net Assets to Net Cash Provided by Operating Activities: Cash Provided by Operating Activities Net Decrease in Cash Cash, Beginning of year Cash, End of year $ 0 Reconciliation of Changes in Net Assets to Net Cash Used for Operating Activities Adjustments to Reconcile Changes in Net Assets to Net Cash Provided by Operating Activities: Cash Provided by Operating Activities $