(a) Prepare The statement of cash flows, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

The statement of income and unclassified statement of financial position for Oriole, Inc. follow:

(a) Prepare the statement of cash flows, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Note X to the Statement of Cash Flows: During the year, the company purchased equipment costing $ (Enter a dollar amount) by paying $21,300 cash and issuing a $58,700 bank loan payable.

ORIOLE, INC. Statement of Financial Position December 31 Assets 2021 2020 $97,200 123,000 75,500 120,700 2,500 19,000 275,000 (45,500) $667,400 $47,100 115,000 42,500 90,900 1,900 28,600 258,000 (52,300 ) $531,700 Cash Trading investments Accounts receivable Inventory Estimated inventory returns Prepaid expenses Equipment Accumulated depreciation Total assets Liabilities and Shareholders' Equity Accounts payable Property tax payable Refund liability Bank loan payable-current portion Bank loan payable-noncurrent portion Common shares Retained earnings Total liabilities and shareholders' equity $73,200 6,300 900 $90,000 10,600 1,200 82,000 26,600 210,000 247,000 $667,400 123,200 23,600 180,000 124,500 $531,700 ORIOLE, INC. Statement of Income Year Ended December 31, 2021 Sales $573,950 185,550 388,400 116,440 271,960 Cost of goods sold Gross profit Operating expenses Income from operations Other income and expenses Unrealized gain on trading investments Interest expense Income before income tax Income tax expense Net income $8,000 (4,700) 3,300 275,260 42,000 $233,260 Additional information regarding 2021: 1. 3. 4. ni w ON 0 Prepaid expenses and property tax payable relate to operating expenses. New equipment costing $80,000 was purchased for $21,300 cash and a $58,700 long-term bank loan payable. Old equipment having an original cost of $63,000 was sold for $1,100. Accounts payable relate to inventory suppliers. Some of the bank loan was repaid during the year. A dividend was paid during the year. Operating expenses include $46,700 of depreciation expense and a $8,400 loss on disposal of equipment. Common shares were issued for $41,000 cash during the year and some common shares were bought back and retired at the cost they were originally issued at. 8. ORIOLE, INC. Statement of Cash Flows A $ Adjustments to reconcile net income to $ $ 4 - $ . $