Additional information pertaining to $2024$:

Net income was $$105,800.$

Sales were $$994,000.$

Cost of goods sold was $$757,000.$

Operating expenses were $$47,000,$ exclusive of depreciation expense.

Depreciation expense was $$42,000.$

Interest expense was $$19,000.$

Income tax expense was $$29,000.$

Long$-$term investments were sold at a gain of $$5,800.$ These investments are carried at their cost, so gains and losses on

these investments are recorded only when the investments are sold.

No equipment was sold during the year.

$$25,000$ of the bank loan was repaid during the year.

Common shares were issued for $$19,000.$

$($a$)$ SUNLAND LTD$.$

Statement of Cash Flows$-$Indirect Method

Cash Flows from Ooeratine Actlvitles

Adjustments to reconcile net income to

Net Cash Frovided bv Ooeratinc Actlvitles

Depreclation Expense

$1$

Decrease In Accounts Favable

Increase in Accounts Pavable

Increase in Estimated Imventory Retums

$[$

$1$

F $

$$

$$

$1$

$1$

$[]$

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$$

$|$~~$|$

eTextbook and Media

eTextbook and Media

Attempts: unlimitedThe comparative unclassified statement of financial position for Sunland Ltd$.$ follows:

Additional information pertaining to $2024$:

Net income was $$105,800.$

Sales were $$994,000.$