Current Attempt in Progress The following information is provided for Sunland Chocolate Corp., which reports under...

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Current Attempt in Progress The following information is provided for Sunland Chocolate Corp., which reports under ASPE: SUNLAND CHOCOLATE CORP. Balance Sheet May 31 Assets 2024 2023 Cash $28.645 $42.535 Accounts receivable: 81,355 72.615 Inventory 167.320 148.755 Prepaid expenses 4.980 6,390 Land 121,000 72.000 Equipment 294,000 181.000 Accumulated depreciation-equipment (66.930) (35,955) Total assets $630,370 $487,340 Liabilities and Shareholders' Equity (35,955) Total assets $630,370 $487,340 Liabilities and Shareholders' Equity Accounts payable $39.435 $35,955 Dividends payable 6.390 4,980 Income tax payable 2.350 5,920 Mortgage payable 117,500 73,555 Common shares 202,600 154,400 Retained earnings 262.095 212,530 Total liabilities and shareholders' equity $630.370 $487.340 Additional information: 1. Profit for 2024 was $106,875, 2. Common shares were issued for $48,200. 3. Land with a cost of $48,200 was sold at a loss of $18.140. Purchased land with a cost of $97.200 with a 553.255 down pavment and financed the remainder with a mortgage note: a Search Additional information: 1. Profit for 2024 was $106,875. 2. Common shares were issued for $48.200. 3. Land with a cost of $48,200 was sold at a loss of $18,140. 4. Purchased land with a cost of $97.200 with a $53.255 down payment and financed the remainder with a mortgage note payable. 5. No equipment was sold during 2024. 6. Net sales for the year were $633.200. 7. Cost of goods sold for the year was $375.800. 8. Operating costs, including depreciation expense, were $91.800. 9. Interest expense was 54.980. 10. Income tax expense was $35.605. 11. Accounts payable is used for merchandise purchases. Prepare a cash flow statement for the year using the direct method. (Show amounts that decrease cash flow with either a sign eg.-15,000 or in parenthesis eg. (15,000)) Current Attempt in Progress The following information is provided for Sunland Chocolate Corp., which reports under ASPE: SUNLAND CHOCOLATE CORP. Balance Sheet May 31 Assets 2024 2023 Cash $28.645 $42.535 Accounts receivable: 81,355 72.615 Inventory 167.320 148.755 Prepaid expenses 4.980 6,390 Land 121,000 72.000 Equipment 294,000 181.000 Accumulated depreciation-equipment (66.930) (35,955) Total assets $630,370 $487,340 Liabilities and Shareholders' Equity (35,955) Total assets $630,370 $487,340 Liabilities and Shareholders' Equity Accounts payable $39.435 $35,955 Dividends payable 6.390 4,980 Income tax payable 2.350 5,920 Mortgage payable 117,500 73,555 Common shares 202,600 154,400 Retained earnings 262.095 212,530 Total liabilities and shareholders' equity $630.370 $487.340 Additional information: 1. Profit for 2024 was $106,875, 2. Common shares were issued for $48,200. 3. Land with a cost of $48,200 was sold at a loss of $18.140. Purchased land with a cost of $97.200 with a 553.255 down pavment and financed the remainder with a mortgage note: a Search Additional information: 1. Profit for 2024 was $106,875. 2. Common shares were issued for $48.200. 3. Land with a cost of $48,200 was sold at a loss of $18,140. 4. Purchased land with a cost of $97.200 with a $53.255 down payment and financed the remainder with a mortgage note payable. 5. No equipment was sold during 2024. 6. Net sales for the year were $633.200. 7. Cost of goods sold for the year was $375.800. 8. Operating costs, including depreciation expense, were $91.800. 9. Interest expense was 54.980. 10. Income tax expense was $35.605. 11. Accounts payable is used for merchandise purchases. Prepare a cash flow statement for the year using the direct method. (Show amounts that decrease cash flow with either a sign eg.-15,000 or in parenthesis eg. (15,000))