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Animals R Us Ltd

Subject:BusinessPrice: Bought3

Animals R Us Ltd. had net income of $247,800 for the year ended March 31, 2021. Animals had the following balance sheet information as at March 31, 2021. 2021 2020 Change Assets Cash $ 607,800 $ 300,000 $307,800 Accounts receivable 270,000 525,000 (255,000) Short-term investments 690,000 480,000 210,000 Inventory 3,504,000 3,135,000 369,000 Property and equipment 1,320,000 1,200,000 120,000 Accumulated depreciation (1,140,000) (840,000) (300,000) Intangible assets 400,000 400,000 Accumulated amortization (112,000) (71,500) (40,500) $ 5,539,800 $5,128,500 Liabilities and Equity Accounts payable $ 823,500 $ 757,500 $ 66,000 Income taxes payable 40,500 63,000 (22,500) Mortgage payable 270,000 840,000 (570,000) Bonds payable 1,350,000 600,000 750,000 Common shares 2,400,000 2,400,000 Retained earnings 655,800 468,000 187,800 $ 5,539,800 $ 5,128,500 Additional Information: 1. Equipment was purchased for $600,000. 2. Land with a cost of $480,000 was sold for cash proceeds of $330,000. 3. Short-term investments are recorded at their cost. 4. Assume any other changes from the prior year are from logical sources. Required: Time left 1:56:02 Using the indirect method, determine Animal's cash flows from operating, investing, and financing activities for the year ended March 31, 2021. Please round your numerical answers to the nearest whole number. Prease note subtractions and negative cashflows as negative. For example, if net cashflows used in financing activities are - $40,000, please enter - 40000. DO NOT USE PARENTHESES. Operating Activities Net Income Adjustments: $ 247,800 Changes in Working Capital: Depreciation Amortization Loss on sale of land Gain on sale of land Loss on sale of equipment Gain on sale of equipment Cash Accounts receivable Short-term investments Inventory Property and equipment Accumulated depreciation Patent Accounts payable Dividends payable Income taxes payable Mortgage payable Bonds payable Common shares Cash from operations Operating Activities Supporting Work: Investing Activities Cash from investing Investing Activities Supporting Work: Financing Activities Operating Activities Supporting Work: Investing Activities > Cash from investing Proceeds from sale of long-lived assets Purchase of long-lived assets Proceeds from sale of investments Purchase of investments Proceeds from issuing mortgage payable Repayment of mortgage payable Proceeds from issuing bonds Repayment of bonds Proceeds from issuing shares Repurchase of previously issued shares Dividend payments Investing Activities Supporting Work: Financing Activities Cash from financing Proceeds from sale of long-lived assets Purchase of long-lived assets Proceeds from sale of investments Purchase of investments Proceeds from issuing mortgage payable Repayment of mortgage payable Proceeds from issuing bonds Repayment of bonds Proceeds from issuing shares Repurchase of previously issued shares Dividend payments Financing Activities Supporting Work:

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