Question 3 of 6 View Policies Current Attempt in Progress -/12 E Cullumber Ltd. is a...

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Question 3 of 6 View Policies Current Attempt in Progress -/12 E Cullumber Ltd. is a private company reporting under ASPE. its income statement and changes in current assets and current liabilities for the year are reported below CULLUMBER LTD. Income Statement Year Ended November 30, 2024 Sales Cost of goods sold Gross pront Operating expenses $1,023840 529,200 494640 $334,000 Depreciation expense 54,000 Gain on sale of equipment 110.800 378,000 SUPP Profit before income tax 116640 Income tax expeme 32.400 Question 3 of 6 < > Profit before income tax Income tax expense Profit for the year Chaneesin current assets and current liabilities were as follows: Accounts receivable Inventory Prepaid expenses Accounts payable Dividends payable income tax payable 116.640 32.400 $64.240 $38.880 decrease 20.520 increase 2160 increase 12.960 decrease 5400 decrease 4,220 decrease /12 E Prepare the operating activities section of the cash flow statement using the indirect method Show amounts that decrease cash flow with either a signes-15.000 or in parenthesis eg (15,000 CULLUMBER LTD. Cash Flow Statement (Partial)--Indirect Method SUP Question 3 of 6 < CULLUMBER LTD. Cash Flow Statement (Partial)-Indirect Method Adjustments to reconcile profit to Month Ended November 30, 2024 November 30 2024 Year Ended November 30, 2024 -/12 Question 3 of 6 -/12 E eTextbook and Media Sanur Linie Attempts: 0 of 2 uted Submit Amer Question 3 of 6 View Policies Current Attempt in Progress -/12 E Cullumber Ltd. is a private company reporting under ASPE. its income statement and changes in current assets and current liabilities for the year are reported below CULLUMBER LTD. Income Statement Year Ended November 30, 2024 Sales Cost of goods sold Gross pront Operating expenses $1,023840 529,200 494640 $334,000 Depreciation expense 54,000 Gain on sale of equipment 110.800 378,000 SUPP Profit before income tax 116640 Income tax expeme 32.400 Question 3 of 6 < > Profit before income tax Income tax expense Profit for the year Chaneesin current assets and current liabilities were as follows: Accounts receivable Inventory Prepaid expenses Accounts payable Dividends payable income tax payable 116.640 32.400 $64.240 $38.880 decrease 20.520 increase 2160 increase 12.960 decrease 5400 decrease 4,220 decrease /12 E Prepare the operating activities section of the cash flow statement using the indirect method Show amounts that decrease cash flow with either a signes-15.000 or in parenthesis eg (15,000 CULLUMBER LTD. Cash Flow Statement (Partial)--Indirect Method SUP Question 3 of 6 < CULLUMBER LTD. Cash Flow Statement (Partial)-Indirect Method Adjustments to reconcile profit to Month Ended November 30, 2024 November 30 2024 Year Ended November 30, 2024 -/12 Question 3 of 6 -/12 E eTextbook and Media Sanur Linie Attempts: 0 of 2 uted Submit Amer