The comparative statement of financial position of Bridgeport Corporation as at December 31,2023, follows: ...
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Accounting
The comparative statement of financial position of Bridgeport Corporation as at December follows:
BRIDGEPORT CORPORATION
Statement of Financial Position
December
December
Assets
Cash
$
$
Accounts receivable
Equipment
Less: Accumulated depreciation
Total
$
$
Liabilities and Shareholders' Equity
Accounts payable
$
$
Common shares
Retained earnings
Total
$
$
Net income of $ was reported and dividends of $ were declared and paid in New equipment was purchased, and equipment with a carrying value of $cost of $ and accumulated depreciation of $ was sold for $
Prepare a statement of cash flows using the indirect method for cash flows from operating activities. Assume that Bridgeport prepares financial statements in accordance with ASPE. Show amounts that decrease cash flow with either asign eg or in parenthesis eg Please provide detailed solutions.
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