FLASHPOINT $$CONSULTING $$LTD

$.$

For $$the $$vear $$Ended $$Seprmber $$

$30$

$,$

$2023$

Revenues:

Consulting $$revenue$=$ $$548000$

Expenses:

Salaries $$expense$=$$$296000$

Amortization $$expense$=$ $$58000$

Rent $$expense$=$ $$14000$

Office $$supplies $$expense$=$ $$16000$

Insurance $$expense$=$ $$4000$

Interest $$expense$=$ $$4000$

Income $$tax $$expense $=$ $$36000$

Net $$income$=$ $$120000$

Additional data during fiscal year $2023$ includes:

a$.$ Acquisition of computer equipment was $$232,000.$ Of this amount, $$202,000$ was paid in cash and $$30,000$ by signing a long$-$term note payable. Flashpoint Consulting Ltd$.$ sold no computer equipment during fiscal year $2023.$

b$.$ Cash received from sale of land, $$20,000.$

c$.$ Cash received from issuance of common shares, $$84,000.$

d$.$ Payment of long$-$term note payable, $$40,000.$

e$.$ Payment of dividends, $$130,000.$

f$.$ Change in cash balance, S$?$

g$.$ From the comparative balance sheet at September $30$:

$1.$ Current assets:

Cash$=$ $$56000(2023),$ $$36000(2022)$

Accounts receivable$=$ $$30000(2023),$ $$144000(2022)$

Office supplies$=$ $$18000(2023),$ $$6000(2022)$

Prepaid expenses$=$ $$10000(2023),$ $$10000(2022)$

$2.$ Current liabilities:

Accounts payable$=$ $$68000(2023),$ $$56000(2022)$

Accrued liabilities$=$ $$38000(2023),$ $$42000(2022)$

Required

$1.$ Prepare Flashpoint Consulting Ltd$.\text{'}$s cash flow statement for the year ended September $30,2023,$

$2.$ Evaluate Flashpoint Consulting Ltd$.\text{'}$s cash flows for the year. In your evaluation, mention all three categories of cash flows and give the reason for your evaluation