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Sunland Ltd. is a private company reporting under ASPE. Its income statement and changes in...

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Accounting

Sunland Ltd. is a private company reporting under ASPE. Its income statement and changes in current assets and current liabilities for
the year are reported below:
SUNLAND LTD.
Income Statement
Year Ended November 30,2024
Changes in current assets and current liabilities were as follows:
Accounts receivable
Inventory
Prepaid expenses
Accounts payable
Dividends payable
Income tax payable
$42,480, decrease
22,420, increase
2,360 increase
14,160 decrease
5,900 decrease
4,720, decrease
Prepare the operating activities section of the cash flow statement 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).)
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