Prepare the statement of cash flow for Special Bakery Ltd. using the indirect method.

Special Bakery Ltd. Balance Sheet As at August 31
	2023	2022
Assets
Current Assets
Cash	$-9,900	$11,000
Accounts Receivable	$13,200	$6,000
Prepaid Insurance	$3,300	$1,100
Merchandise Inventory	$32,200	$18,000
Total Current Assets	$38,800	$36,100
Property, Plant & Equipment
Equipment	$190,000	$157,000
Less: Accumulated Depreciation	$-26,800	$-17,100
Total Assets	$202,000	$176,000
Liabilities
Current Liabilities	$18,300	$18,300
Long-Term Liabilities	$22,000	$39,000
Total Liabilities	$40,300	$57,300
Shareholders' Equity
Common shares	$64,000	$54,000
Retained earnings	$97,700	$64,700
Total Shareholders' Equity	$161,700	$118,700
Total Liabilities and Equity	$202,000	$176,000

Assume current liabilities include only items from operations (e.g., accounts payable, tax payable). Long-term liabilities include items from financing (e.g. bonds and other long-term liabilities). Assume no equipment was sold during the year.

Prepare the cash flow statement for 2023 using the indirect method. Assume the net income for 2023 was $33,000.

Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash.

Special Bakery Ltd. Cash Flow Statement For the Year Ended August 31
Cash Flow from Operating Activities
Net Income	Answer
Add: Depreciation	Answer
Change in Operating Assets and Liabilities
Change in Accounts Receivable	Answer
Change in Prepaid Insurance	Answer
Change in Merchandise Inventory	Answer
Net Cash Provided (Used) by Operating Activities		Answer
Cash Flow from Investing Activities
Purchase of Equipment	Answer
Net Cash Provided (Used) by Investing Activities		Answer
Cash Flow from Financing Activities
Issued Common Shares	Answer
Paid Long-Term Liabilities	Answer
Net Cash Provided (Used) by Financing Activities		Answer
Net increase (decrease) in cash		Answer
Cash at the beginning of the year		Answer
Cash at the end of the year		Answer

Answer rating: 100% (QA)

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