Do not give answer in image Tamarisk Inc. is a major retailer of road bicycles and a promoter of riding bicycles to work, both to save the environment and improvephysical fitness. Financial statements for Tamarisk are presented below.Current AssetsCashAccounts receivableProperty and equipmentProperty and equipmentLess: Accumulated depreciationNet property and equipmentTOTAL ASSETSCurrent liabilitiesInventoryPrepaid expensesTotal current assetsTotal liabilitiesShareholders' equityCommon sharesRetained earningsTotal shareholders' equityTOTAL LIABILITIES AND SHAREHOLDERS' EQUITYAccounts payableSalaries payableInterest payableTotal current liabilitiesLoan payableSales revenueCost of salesGross marginExpenses●TAMARISK INC.STATEMENT OF FINANCIAL POSITIONDecember 31●Net income●TAMARISK INC.INCOME STATEMENTFor the Years Ended December 31Salaries expenseInterest expenseOther expensesTotal expensesOperating incomeGain on disposal of equipmentIncome tax expenseDepreciation expense2024419,000194,100Add/(Deduct) non-cash items:136,0003,5006,00014,900$613,100 $500,000350,000160,40033,7001.9006,400$29,200$56.5502023>Non-cash investing and financing activities127,650160,850(78,900)$209,600150,00011,60010,9002,45024.950100,850125,800125,0002,4002024$209,6003,0008,00024,55030,650138,40015,90011,6001,972$9,628● Cost of sales includes $140,000 of direct labour costs.81,9509,85073,95083,8002023$20,75010,45015,65010.900$57,750150,850(70,000)80.850$138,600Tamarisk Inc.Statement of Cash FlowsThe following is additional information concerning Tamarisk's transactions during the year ended December 31, 2024:15,500● Equipment costing $40,000 was purchased by paying $34,500 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 $25,900. 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, Tamarisk borrowed an additional $40,000 and issued an additional 100 shares.Cash dividends of $4,200 were paid at the end of the fiscal year.8,9003,45027,85060,85088,70095048,950Prepare a statement of cash flows for Tamarisk for the year ended December 31, 2024, using the indirect method. Tamarisk followsASPE. (Show amounts that decrease cash flow with either a negative sign e.g. -15,000 or in parenthesis e.g. (15,000).)49,900$138,60010 J$$

An organization's total cash inflows from current activities as well as from outside investment…

Tamarisk Inc. is a major retailer of road bicycles and a promoter of riding bicycles to work, both to save the environment and improve physical fitness. Financial statements for Tamarisk are presented below. Current Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property and equipment Property and equipment Less: Accumulated depreciation Net property and equipment TOTAL ASSETS Current liabilities Accounts payable Salaries payable Interest payable Total current liabilities Loan payable Total liabilities Shareholders' equity Common shares Retained earnings Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY Sales revenue Cost of sales Gross margin Expenses TAMARISK INC. STATEMENT OF FINANCIAL POSITION December 31 TAMARISK INC. INCOME STATEMENT For the Years Ended December 31 Salaries expense Interest expense Other expenses Net income ● Total expenses Operating income Gain on disposal of equipment Income tax expense ● Depreciation expense 2024 419,000 Add/(Deduct) non-cash items: 194,100 136,000 3,500 6,000 14,900 $613,100 $500,000 350,000 160,400 33,700 1,900 6,400 $29,200 2024 $56,550 24,550 30,650 15,900 127,650 2023 160,850 (78,900) 81,950 $209,600 Non-cash investing and financing activities 24,950 100,850 125,800 $209,600 150,000 125,000 2,400 3,000 8,000 138,400 11,600 10,900 2,450 11,600 1,972 $9,628 9,850 73.950 83,800 2023 $20,750 10.450 15,650 10,900 57,750 150,850 (70,000) $ 80,850 $138,600 15,500 Tamarisk Inc. Statement of Cash Flows 8,900 3,450 27,850 The following is additional information concerning Tamarisk's transactions during the year ended December 31, 2024: 60,850 Equipment costing $40,000 was purchased by paying $34,500 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 $25,900. 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, Tamarisk borrowed an additional $40,000 and issued an additional 100 shares. Cash dividends of $4,200 were paid at the end of the fiscal year. ● Cost of sales includes $140,000 of direct labour costs. 88,700 950 48,950 49,900 $138.600 Prepare a statement of cash flows for Tamarisk for the year ended December 31, 2024, using the indirect method. Tamarisk follows ASPE. (Show amounts that decrease cash flow with either a negative sign e.g.-15,000 or in parenthesis e.g. (15,000).) $ $