Question: Current Attempt in Progress The current assets and liabilities sections of the comparative balance sheet of Oriole Inc.. a private company reporting under ASPE. at
Current Attempt in Progress The current assets and liabilities sections of the comparative balance sheet of Oriole Inc.. a private company reporting under ASPE. at October 31 are presented below. along with the income statement: ORIOLE INC. Comparative Balance Sheet Accounts 2024 2023 Cash $87,120 $92,400 Accounts receivable 56,320 36,080 Inventory 28,600 40,480 Prepaid expenses 6,600 5,104 Accounts payable 37,840 31,680 Accrued expenses payable 4.400 7.040 Dividends payable 21,120 14,960 Income tax payable 5,984 10,384 ORIOLE INC. Income Statement Year Ended October 31, 2024 Sales $550,000 Cost of goods sold 343,200 Gross prot 206,800 Operating expenses $77440 Depreciation expense 20.240 Loss on sale of equipment 7.040 104,720 Prot before income taxes 102,080 Income tax expense 25,520 Prot for the year $76,560 Prepare the operating activities section of the cash ow statement using the indirect method. (Show amounts that decrease cash ow with either a - sign 8.3. -15,000 or in parenthesis eg. { 15,0001} ORIOLE INC. Cash Flow Statement (PartiaI)Indirect Method Adjustments to reconcile prot to V v to eTextbook and Media Save for Later Attempts: 0 of 2 used Submit
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