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The statement of income and unclassifiod statement of financisl postion for Doohan Lid. is as follews: Doohan Lid. Statement of Income Yoar Ended July 31,

image text in transcribed The statement of income and unclassifiod statement of financisl postion for Doohan Lid. is as follews: Doohan Lid. Statement of Income Yoar Ended July 31, 2023 Addifienal information: - Prepaid experhes and preperty tak paystile retale to aperating experhes. - New equipment exaling \$85,000 was purchased for \$27,000 cash and a \$58,000 langlems bark loan payalole. - Old equipment having an eriginal cxot of \$59,500 was sold for \$1,500. - Accounts payabie relate to imentory supplers. - Some of the bank loan was repald during the year. * A dividend was poid during the year. - Operating expenses inclube $46,500 of depreciafion expenbe and a $7,500 bos an disposal of equipment. * Common shares were issued for \$42,000 cash during the year and some common shares were bought bock and retired at the cost thery were oniginaly iseued at. Instructions A. Prepare the stalement of cash fores, using the indrect method in goed form. (20 marks)

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