AApp2-2 Statement of Cash Flows: The following data are provided regarding Tema Corp.: Page 1640 Statement of Earnings and Comprehensive Income For the Year Ended 31 December 20X8 Revenues Sales $760,000 Interest and dividends 30,500 Gain on sale of land 7.000 $ 797,500 Expenses and losses Cost of goods sold $350,000 Selling expenses 40,200 Depreciation expense 19,600 Interest expense 8,300 Loss on sale of fixed assets 2,100 Income tax expense 113,200 533,400 Earnings and comprehensive income $ 264,100 Statement of Financial Position As at 31 December 20X8 20x8 20X7 Assets Cash and cash equivalents $83,200 $53.100 Accounts receivable 209,000 240,000 Inventory 182.100 175,000 Land 8.900 Fixed assets (net) 814,200 695.000 $1,288,500 $1,172.000 Liabilities and shareholders' equity $89.900 $ 104,300 Accounts payable Income tax payable Cash dividends payable 75.700 47.100 16,000 IL Bonds payable 200,000 Less: Unamortized discount (44,000) Preferred shares 90.000 50.000 Common shares 395.000 350.000 Common stock conversion rights 30.000 Retained earnings 435.900 620.600 $1,288,500 $1,172,000 1. Fixed assets with an original cost of $45.200 were sold for $17,100. Land was also sold for cash. 2. A stock dividend valued at $25,000 was issued in June 20X8. 3. Fixed assets valued at $40,000 were acquired for preferred shares during the year. 4. Convertible bonds were issued for cash in January 20X8. 5. The bond discount was amortized by $4,000 during the year. 6. Assume other changes to SFP accounts represented normal events. Required: Prepare the SCF for the year ended 31 December 20X8. Use the indirect method for operations. Include a list of required Page 1641 note disclosure for non-cash transactions. Omit the separate disclosure of cash flow for interest, investment income, and income tax