($15) Deferred Net income 83 S230 Condensed statement of financial position and statement of income are given below for Sinclair Corp. Sinclair Corp Comparative Statement of Financial Position at December 31 (in millions of Canadian dollar) Cash Canada Treasury Bills-1-month maturity FV-NI investments Accounts receivable Allowance for doubtful accounts Inventory Prepaid expenses Land Plant assets Accumulated depreciation - plant assets Patents 2019 2018 $365 S280 83 75 110 142 750 660 85 75 660 25 16 150 100 1,800 1,800 -600 -570 180 201 $3.378 $3,289 + 600 Additional information: 1. Sinclair, which follows IFRS, has adopted the policy of classifying interest paid as operating activities and dividends paid as financing activities 2. FV-NI investments in WLU Corp. were sold on the December 21, and there were no unrealized gains or losses on the remaining FV-NI investments. The FV-NI investments' carrying amount and market value were the same at December 31, 2019. 3. The bonds were issued at a discount. No new bonds were issued. No existing bonds were retired. 4. Accounts receivable of S30 million were written off. 5. Intangible assets were impaired. 6. Sinclair paid $182 million to repurchase and cancel common shares. Instructions: Prepare the 2019 statement of cash flows in good for using the direct method. Ignore additional note disclosures. Show ALL necessary calculations. Accounts payable (used only for merchandise inventory) Accrued liabilities Dividends payable Income taxes payable Bonds Deferred tax liability Preferred shares Common shares Retained Earnings S130 80 15 15 2,010 30 150 268 680 $3.378 $35 75 39 5 1,935 45 100 440 615 $3.289 + Siniciun corp Statement of Income Year Ended December 31, 2019 (in millions of Canadian dollar) $4,600 3,220 1,380 910 470 Sales Cost of goods sold Gross margin Other operating expenses Income from operations Other expenses and gains Interest expense Impairment loss on patents FV-NI Investment loss Income before tax Income tax expense: Current S120 $21 16 157 313 98