ash and issuing a bank loan payable for $68,200. Additional information regarding 2024: 1. Long-term investments were sold for $5,200, resulting in a realized loss of $5,500. 2. New equipment costing $142,000 was purchased for $73,800 cash and a $68,200 bank loan payable. 3. Equipment costing $56,000 was sold for $15,400, resulting in a gain of $8,000. 4. Accounts payable relate to merchandise suppliers; property tax payable relates to operating expenses. 5. A dividend was paid during the year. 6. Operating expenses include $58,200 of depreciation expense and an $8,000 gain on disposal of equipment. 7. The company issued common shares for $61,000 cash and bought back and retired some other common shares at the cost they were originally issued at. (a) Prepare the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a sign e.g. 15,000 or in parenthesis e.g. (15,000). r Pharoah Inc. follow