80- Show Attempt History Current Attempt in Progress Your answer is partially correct. Condensed financial data follow for Oriole Ltd. Oriole reports under ASPE ORIOLE LTD. Balance Sheet December 31 Assets 2024 2023 Cash $121,270. $60,015 Accounts receivable 93,990 53,320 Inventory 151,900 115.135 Prepaid expenses Long-term investments 47,615 32.240 158,720 141,360 Property, plant, and equipment 334,800 300,700 Accumulated danenciation 162.0001 Q Search 13 Accumulated depreciation Total assets Liabilities and Shareholders' Equity (62,000) (64,480) $846,295 $638,290 Accounts payable $15,320 $95,850 Accrued expenses payable 14.255 8,680 Notes payable 136,400 186,000 Common shares 290,160 217,000 Retained earnings 290,160 130,760 Total liabilities and shareholders' equity $846,295 $638,290 ORIOLE LTD. Income Statement Year Ended December 31, 2024 Sales Cost of goods sold Gross profit Search $611.050 229,970 381.080 9.067 ORIOLE LTD. Income Statement Year Ended December 31, 2024 Sales $611,050 Cost of goods sold 229.970 Gross profit 381,080 Operating expenses $77,390 Depreciation expense 57,660 Loss on sale of equipment 9,300 144,350 Profit from operations. 236.730 Other expenses 6,820 Interest expense Profit before income tax 229.910 Income tax expense 55.800 Profit for the year $174.110 Profit for the year $17410 Additional information: 1. New equipment costing $105,400 was purchased for $31,000 cash and a $74,400 note payable. 2. Equipment with an original cost of $71,300 was sold at a loss of $9.300. 3. Notes payable matured during the year and were repaid. 4. A long-term investment was acquired for cash. Prepare a cash flow statement for the year using the indirect method. (Show amounts that decrease cash flow with either a-sign eg. -15,000 or in parenthesis e.g. (15,000).) Operating Activities Payments for Taxes ORIOLE LTD. Cash Flow Statement-Indirect Method Year Ended December 31, 2024 Search P 174110