2021 Joyful Inc. has prepared the following comparative statement of financial position for 2021 and 2022 2022 Plant assets 1,260,000 1,050,000 Accumulated depreciation (460,000) (375,000) Patent 151,000 174,000 Prepaid expenses 19,000 27,000 Inventory 150,000 180,000 Receivables 159,000 117,000 Cash 297,000 153,000 1.576.000 1.326,000 66,000 Share capital-preference Share premium-preference Share capital-ordinary Retained earnings Mortgage payable Accounts payable Accrued liabilities 129,000 499,000 168,000 60,000 168,000 42,000 450,000 120,000 600,000 1.576,000 600.000 1.326.000 1. The Accumulated Depreciation account has been credited only for the depreciation expense for the period. Also, Patent decreased due to amortization. 2. The Retained Earnings account has been charged for dividends of 384,000 and credited for the net income for the year. The income statement for 2022 is as follows: Sales Cost of sales Gross profit Operating expenses Net income 2,180,000 1.088.000 1,092,000 690,000 402,000 Instructions From the information above, prepare a statement of cash flows for Joyful, Inc. for the year ended December 31, 2022 using Direct Method