THIS IS EXTREMELY TIME-SENSITIVE. I WOULD GREATLY APPRECIATE SOMEONE'S HELP IN PREPARING THIS INDIRECT METHOD OPERATING SECTION OF CASH FLOW STATEMENT WITH THE GIVEN INFORMATION.

1. Prepare Brentwood Bay Inc.s operating section of the cash flow statement for the year ended September 30, 2023, using the indirect method

2. Describe how the direct method would differ from the partial statement you created in Requirement 1.

CURRENT BALANCE SHEET:

Other information for the year ended September 30, 2023 that may be needed includes
a. Acquired equipment by issuing long-term note payable, $89,200, and paying $16,000 cash.
b. Paid long-term note payable, $122,800.
c. Received $207,600 cash for issuance of common shares.
d. Paid cash dividends, $217,200.
e. Acquired equipment by issuing short-term note payable, $40,000.
f. Net income, $349,600
g. Amortization expense, $34,000
h. Gain on sale of land, $43,600

\begin{tabular}{|c|c|c|c|c|} \hline Assets & \multicolumn{2}{|r|}{2023} & \multicolumn{2}{|r|}{2022} \\ \hline \multicolumn{5}{|l|}{ Current assets } \\ \hline Cash & $ & 194,800 & $ & 96,400 \\ \hline Accounts receivable & & 167,600 & & 164,000 \\ \hline Interest receivable & & 16,400 & & 11,200 \\ \hline Inventory & & 486,800 & & 467,600 \\ \hline Prepaid expenses & & 34,400 & & 37,200 \\ \hline Long-term investments & & 204,400 & & 55,200 \\ \hline Plant and equipment, net & & 527,600 & & 416,400 \\ \hline Land & & 188,400 & & 297,200 \\ \hline Total assets & \multicolumn{2}{|c|}{$1,820,400} & \multicolumn{2}{|c|}{$1,545,200} \\ \hline \multicolumn{5}{|l|}{ Liabilities } \\ \hline \multicolumn{5}{|l|}{ Current liabilities } \\ \hline Notes payable, short-term & $ & 40,000 & $ & 0 \\ \hline Accounts payable & & 247,200 & & 281,200 \\ \hline Income tax payable & & 47,200 & & 46,400 \\ \hline Accrued liabilities & & 71,600 & & 116,400 \\ \hline Interest payable & & 18,000 & & 12,800 \\ \hline Salaries payable & & 6,000 & & 4,400 \\ \hline Long-term note payable & & 492,000 & & 525,600 \\ \hline \multicolumn{5}{|l|}{ Shareholders' Equity } \\ \hline Common shares & & 543,600 & & 336,000 \\ \hline Retained earnings & & 354,800 & & 222,400 \\ \hline Total liabilities and shareholders' equity & & 1,820,400 & & 1,545,200 \\ \hline \end{tabular}