b). The comparative balance sheet of Clyde Ltd for December 31,2020 , is as follows: Additional data obtained from an examination of the accounts in the accounts in the ledger for 2020 are as follows: a) Equipment and land were acquired for cash. b) There were no disposals of equipment during the year. c) The investments were sold for 588,000 cash. d) The common stock was issued for cash. e) There was a 528,000 debit to Retained Earnings for cash dividends declared. Instructions Prepare a statement of cash flows for Clyde Ltd, using the direct method of presenting cash flows from operating activities. ( 15 Marks) b). The comparative balance sheet of Clyde Ltd for December 31,2020 , is as follows: Additional data obtained from an examination of the accounts in the accounts in the ledger for 2020 are as follows: a) Equipment and land were acquired for cash. b) There were no disposals of equipment during the year. c) The investments were sold for 588,000 cash. d) The common stock was issued for cash. e) There was a 528,000 debit to Retained Earnings for cash dividends declared. Instructions Prepare a statement of cash flows for Clyde Ltd, using the direct method of presenting cash flows from operating activities. ( 15 Marks)