8) The following information was reported by Back to School Inc. on its statements of financial position as at September 30, 2021 and 2020 and on it statements of earnings for the year ended September 30, 2021. Back to School Inc. Statement of Financial Position as of at September 30 Cash Accounts receivable Inventory Prepaid expenses Furniture and fixtures Accum depre: Furniture and fixtures Property, plant and equipment Accum depre: PPE Investments Total assets 20211 2020 $2.000 1.000 42.000 45.000 12.000 10.000 2.000 1.500 13.000 18.000 -13.000 - 12.000 45.000 25.000 -9.000 5.000 4,000.00 $98.000,00 Accounts payable $17.000 13.000 Income tax payable 1.000 2.500 Mortage payable 30.000 39.00 Contributed capital 32.000 30.CO Retained carings 18,000 4.000 Total liabilities and shareholders' equity 598.000 88,500 Back to School Inc. Statement of Earnings for the year ended September 30 2021 Sales 5925.000 Cost of goods sold 655.000 Gross proti 270,000 Operating expenses Depreciation 8.000 Selling and general 225,000 Emines from operations 37.000 Interest expense 2.000 Loss on sale of furniture 1.000 Famnings before income taxes 34,000 Income tax expense 10.200 Nel carnings $23.00 Additional information is as follows: - During 2021, the company sold old furniture with an original cost of $5,000 and $3,000 of accumulated depreciation up to the date of the sale. - A dividend was declared in the year. Required: Prepare a statement of cash flows for Back to School Inc. for the year ended September 30, 2021 using the indirect method. (21 marks) 2