6. Statement of Cash Flows (18 points) The balance sheet of Industries Inc. as at October 31, 2018 are as follows: Industries Inc. Balance Sheet October 31, 2017 Assets Cash Accounts Receivable Inventory Prepaid Expenses Equipment Accumulated Depreciation - Equipment Land Total Assets October 31, 2018 $35,664 35,000 95,000 18,000 163,000 (21,600) 132,076 $457.140 $27,000 40,000 86,000 19,000 163,000 (10.800) 90.240 $414.440 Liabilities and Shareholders' Equity Account Payable Income Tax Payable Unearned Revenue Dividends Payable Common Shares Retained Earnings Total Liabilities and Shareholders' Equity 5,000 37,000 12,000 7,600 19,000 376,540 $457,140 7,500 26,000 8,000 2,400 14,000 356,540 $414,440 Additional information for 2018 Industries Inc.: a) Net income before taxes is $64,767. b) Net income after taxes is $38.860. c) Depreciation expense in 2018 is $10,800. d) In March 2018, Industries Inc. purchased a piece of land that they plan to use for a project in 2019. e) In August 2018, Industries Inc. sold another piece of land for proceeds of $17,000. The land that they sold had an original cost of $22,424. f) Common shares were issued for cash. g) No equipment was purchased in 2018. Required: Prepare the statement of cash flows for Industries Inc., for the year ended October 31, 2018, using the indirect method. (18 points)