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Tamarisk Materials Ltd. is a family-run do-it-yourself building materials company located on Pelee Island, Ontario....

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Accounting

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Tamarisk Materials Ltd. is a family-run do-it-yourself building materials company located on Pelee Island, Ontario. The company produces high-quality building materials for do-it-yourselfers. The company's bookkeeper has gone on holiday and the company has brought you in to help it prepare its monthly financial statement package, which the bank requires as part of the terms of the loan financing. You have correctly completed the statement of financial position and the statement of income statement. You only have the statement of cash flows left to prepare based on the following information: Total assets $416,500$384,840 Liabilities and shareholders' equity Current liabilities: TAMARISK MATERIALS LTD. Statement of Income For the year ended December 31, 2024 Sales revenue $1,238,900 Cost of goods sold 653.300 Additional information: During fiscal year 2024, Tamarisk sold a piece of its equipment. The equipment sold had originally cost $137,950 and was sold for $11,750. TAMARISK MATERIALS LTD. Statement of Cash Flows, Direct Method

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