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Wildhorse Ltd., which follows ASPE had the following comparative Statement of Financial Position: Wildhorse Ltd. Comparative Statement of Financial Position March 31 Assets 2021 2020
Wildhorse Ltd., which follows ASPE had the following comparative Statement of Financial Position: Wildhorse Ltd. Comparative Statement of Financial Position March 31 Assets 2021 2020 Cash $ 16,400 $ 11,800 Accounts receivable 58.000 33.500 Inventory 82.300 66,400 Prepaid expenses 6.900 4.600 Property, plant, and equipment 244.000 202.500 Accumulated depreciation (59.000 49.500) Total assets $ 148,600 $ 269,300 Liabilities and Shareholders' Equity Accounts payable Interest payable Income taxes payable Bonds payable Common shares Retained earnings Total liabilities and shareholders equity 5 12.600 3,000 22.000 89.000 98.500 123,500 5 348.600 $ 20.500 3,500 11.500 52,800 82.500 98.500 5269.300 Additional Information 1 Net Income for the fiscal year was 535 500 2 Equipment with original cost of $31.900 was sold for S1000 cash durt 2021. The equipment was deprecated 510.000. This disposat resulted in a $1.500 los Additional information 1 2 Net income for the fiscal year was $35,500. Equipment with an original cost of $31.500 was sold for $10,000 cash during 2021. The equipment was depreciated $10,000. This disposal resulted in a $11.500 loss. Prepare the operating activities section of a statement of cash flows using the indirect format. (Showments that dreech flow with either a-signey -15,000 or in parentheses (15,000)) Wildhorse Ltd. Statement of Cash Flows 5 Adjustments to reconcile net income te net cash provided by operating activities: $ )
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