The comparative statement of financial position for Carla Vista Retailers Ltd. follows: 1. Netincome was...
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The comparative statement of financial position for Carla Vista Retailers Ltd. follows: 1. Netincome was $39,000. 2. Depreciation expense was $17,000. 3. During the year, the company did not receive any new bank loans. 4. During the year, the company did not purchase furniture but did sell some furniture for $8,000, which resulted in a gain on disposal of $4,000. 5. No common shares were issued during the year but some were repurchased at the cost at which they were originally issued. 6. During the year, the company paid all dividends declared. (a) Prepare a statement of cash flows using the indirect method for 2024. (Show amounts that decrease cash flow with either a sign e.g. 15,000 or in parenthesis e.g. (15,000).) CARLA VISTA RETAILERS LTD. Statement of Cash Flows $ Adjustments to reconcile net income to $ $ 5
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