The following is additional information concerning Sarasota's transactions during the year ended December :
Equipment costing $ was purchased by paying $ cash and issuing shares.
Equipment costing $ that was purchased at the beginning of was sold at the end of for
$ Straightline depreciation had been used with an expected asset life of years and a residual value of
$
The "other expenses" relate to prepaid items.
In order to supplement its cash, Sarasota borrowed an additional $ and issued an additional shares.
Cash dividends of $ were paid at the end of the fiscal year.
Cost of sales includes $ of direct labour costs.
Prepare a statement of cash flows for Sarasota for the year ended December using the indirect method.
Sarasota follows ASPE. Show amounts that decrease cash flow with either a negative sign eg
or in parenthesis egSarasota Inc. is a major retailer of road bicycles and a promoter of riding bicycles to work, both to save the ervironment
and improve physical fitness. Financial statements for Sarasota are presented below.
Expenses
