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LUULIVE Total assets $648,200 $508,300 Liabilities and Shareholders' Equity Accounts payable $41,200 $37.000 Dividends payable 6,300 4,800 Income taxes payable 2.000 5,800 Mortgage payable 120,000 77,000 Common shares 213.000 163,000 Retained earnings 265.700 220.700 Total liabilities and shareholders' equity $648,200 $508,300 Additional Information: 1. Profit for 2021 was $105,000. 2. Common shares were issued for $50,000. 3. Land with a cost of $50,000 was sold at a loss of $18.800. 4. Purchased land with a cost of $98,000 with a $55,000 down payment and financed the remainder with a mortgage note payable. 5. No equipment was sold during 2021. Prepare a cash flow statement for the year using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) Prepare a cash flow statement for the year using the indirect method. (Show amounts that decrease cash flow with either a - signeg. -15,000 or in parenthesis eg. (15,000).) CARLA VISTA LTD. Cash Flow Statement - Indirect Method Adjustments to reconcile profit to Question 4 of 4 -/3 Cash, June 1, 2020 Cash, May 31, 2021 Financing Activities Investing Activities Operating Activities Net Cash Provided by Financing Activities $ Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash $ E Cnrties Screenshot saved The screenshot was added to your OneDive Note X: Land with as cost of $ was purchased by paying $ cash and issuing a mortgage note payable for $ Question 4 of 4

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