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Blossom Ltd, which follows ASPE had the following comparative statement of financial position: Additional...

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Accounting

Blossom Ltd, which follows ASPE had the following comparative statement of financial position:
Additional information:
Net income for the fiscal year was $54,500.
Equipment that cost $42,000 and was 70% depreciated was sold during 2024, for a gain of $4,000.
No patents were purchased or sold during the fiscal year.
The current Notes Payable are trade payables issued by Blossom Ltd. for the purchase of inventory.
Prepare the operating activities section of a statement of cash flows using the indirect format. (Show amounts that
decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g.(15,000).)
Blossom Ltd.
Statement of Cash Flows
Adjustments to reconcile net income to
net cash provided by operating activities:
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