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Additional information regarding 2024: Net income was $67,000. ...

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Accounting

Additional information regarding 2024:
Net income was $67,000.
Depreciation expense was $23,000.
Payments made to the bank pertaining to the bank loan were $10,000. The company obtained some new bank loans during
the year.
Common shares were issued during the year and the company did not buy back any shares.
During the year, the company did not sell any furniture.
(a) Prepare a statement of cash flows using the indirect method for 2024.(Show amounts that decrease cash flow with either a- sign eg
-15,000 or in parenthesis e.g.(15,000).)
Adjustments to reconcile net income to
Net Cash Provided by Operating Actlvitles
Net Cash Provided by Operating Actlvitles
Cash Flows from Investing Activitles
Purchase of Furnlture
$
Net Cash Used by Imvesting Actlvitles
Cash Flows from Financing Actlylties
$
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