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	2023	2022	Change
Assets
Current Assets
Cash	75,000	53,000	22,000
Accounts Receivable	30,000	40,000	(10,000)
Inventory	25,000	20,000	5,000
Prepaid Expenses	12,000	8,000	4,000
Non-current Assets
Land	150,000	40,000	110,000
Buildings	170,000	50,000	120,000
Accumulated Deprecation-buildings	(11,000)	(5,000)	(6,000)
Equipment	27,000	10,000	17,000
Accumulated Deprication-equipment	(4,000)	(2,000)	(2,000)
Total Assets	474,000	214,000

Liabilities and Shareholders' Equity
Liabilities
Current Liabilities
Accounts Payable	37,000	30,000	7,000
Income Tax Payable	10,000	12,000	(2000)
Non-current Liabilities
Mortgage Payable	139,000	21,000	118,000
Shareholders' Equity
Common Shares	100,000	80,000	20,000
Retained Earnings	188,000	71,000	117,000
Total Liabilities and Shareholders' Equity	474,000	214,000

Sales	595,000
Cost of Goods Sold	238,000
Gross Profit	357,000
General Operating Expenses	120,000
Deprecation Expense	9,000
Loss on Sale of Equipment	3,000
Interest Expense	10,000
Income Tax Expense	45,000
Net Income	170,000

Additional Information:

1. The company acquired land worth $110,000 by paying cash of $95,000 and by issuing common shares worth $15,000. The company also raised $5,000 by issuing common shares for cash.

2. Equipment costing $25,000 was purchased for cash.

3. The company sold equipment for $4,000 cash, leading to the loss on sale shown in the income statement above.

4. Company received $124,000 mortgage loan during the year and paid off $6,000 mortgage loan during the year.

5. Computer Services Corporation declared and paid dividends during the year.

Note: DO NOT use commas or dollar signs in your answers (e.g. 2750, NOT $2,750). DO NOT use brackets to denote negative values, use a minus sign (e.g. -100, NOT (100)).

Cash from Operating Activities
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$

Add
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$
Total Operating Additions	$
Deduct
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$
Total Operating Deductions	$
1. Net Cash from/used in Operating Activities	$

Cash from Investing Activities
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$
Net Cash Flows from Investing Activities	$

Cash from Financing Activities
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$
Additions to Mortgage Payable Change in Accounts Payable Change in accounts Receivable Change in Income Tax Payable Change in Inventory Change in Prepaid Expense Depreciation Expense Proceeds from sale of share capital Loss on sale of equipment Net Income Payment of dividend Proceeds from sale of equipment Purchase of building Purchase of equipment Purchase of land Repayment of Mortgage Loan	$
Net Cash Flows from Financing Activities	$

Net Change in Cash	$
Cash Opening Balance	$
Cash Closing Balance	$

Crowdly

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