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The following is additional information concerning Sarasota's transactions during the year ended December 31,2024: ...

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Accounting

The following is additional information concerning Sarasota's transactions during the year ended December 31,2024:
Equipment costing $40,000 was purchased by paying $34,750 cash and issuing 100 shares.
Equipment costing $30,000 that was purchased at the beginning of 2023 was sold at the end of 2024 for
$25,300. Straight-line depreciation had been used with an expected asset life of 10 years and a residual value of
$0.
The "other expenses" relate to prepaid items.
In order to supplement its cash, Sarasota borrowed an additional $40,000 and issued an additional 100 shares.
Cash dividends of $4,350 were paid at the end of the fiscal year.
Cost of sales includes $140,000 of direct labour costs.
Prepare a statement of cash flows for Sarasota for the year ended December 31,2024, using the indirect method.
Sarasota follows ASPE. (Show amounts that decrease cash flow with either a negative sign e.g.-15,000
or in parenthesis e.g.(15,000Sarasota 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
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