Below is a comparative statement of financial position for Egglestone Vibe Inc. as at December 31, 2021:

Additional information:
1. Net income for the 2021 fiscal year was $24,700.
2. During 2021 land was purchased for expansion purposes. Six months later, another section of land with a carrying value of $111,800 was sold for $150,000 cash.
3. On June 15, 2021, notes payable of $160,000 were retired in exchange for the issuance of common shares. On December 31, 2021, notes payable for $10,500 were issued for additional cash flow.
4. Available for sale investments (FVOCI) were purchased during 2021 for $20,000 cash. By year-end, the fair value of this portfolio dropped to $81,900. No investments from this portfolio were sold in 2021.

5. At year-end, plant assets originally costing $53,000 were sold for $27,300, since they were no longer contributing to profits. At the date of the sale, the accumulated depreciation for the asset sold was $15,600.
6. Cash dividends were declared and a portion of those were paid in 2021. Dividends are reported under the financing section.
7. Goodwill impairment loss was recorded in 2021 to reflect a decrease in the recoverable amount of goodwill.
Required:

a. Prepare a statement of cash flows in good form, including all required disclosures identified in Chapter 4. The company uses the indirect method to prepare the statement.

b. Analyze and comment on the results reported in the statement

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Egglestone Vibe Inc. Statement of Financial Position December 31 2021 2020 Assets: Cash Accounts receivable Inventory Investments - available for sale (FVOCI) Land $ 84,500 $ 37,700 113,100 76,700 302,900 235,300 81,900 109,200 84,500 133,900 Plant assets 507,000 560,000 Accumulated depreciation - plant assets (152,100) (111,800) Goodwill 161,200 224,900 Total assets $1,183,000 $1,265,900 Liabilities and Equity: Accounts payable $ 38,100 $ 66,300 Dividend payable Notes payable Common shares Retained earnings Total liabilities and equity 19,500 41,600 416,000 565,500 322,500 162,500 374,400 370,200 Accumulated other comprehensive income 12,500 59,800 $1,183,000 $1,265,900