Below is the comparative statement of financial position for Allarco Inc., a company that reports under IFRS. In addition, Allarco Inc.'s income statement for 2017 is presented. 1. Allarco Inc. paid $17,000 cash to retire common shares which had an average cost of $9,000. 2. During fiscal 2017, the company declared and paid cash dividends. Share dividends were also declared and distributed ($1.200). 3. Machinery at a netbook value of $8,000 was sold for cash during the year. It was originally purchased for 59,300. 4 The company uses the equity in earnings method to account for its 401% shares investment in associate Barton Corporation No Shares were purchased or sold dunng the year 5. During fiscal 2017, a trademark was purchased for $2,600 cash. Prepare a statement of cash flows using the direct method. Please make sure your final answer(s) are accurate to 2 decimal places Allarce in Balance Sheet Allarca Inc Statement of Cash Flows For the Year Ended May 31, 2017 x + Cash----- Accounts receivable, net Inventory -- HIM investments Investment, Barton Corporation Trademark_ Machinery Accumulated depreciation, machinery Total assets Accounts payable Income tax payable Dividends payable Bands payable Corrinon shares Contributed surplus Related earnings Total liabilities and shareholders' equity May 31, 2017 May 31, 2016 $26,800 $8,200 25,200 23,600 52,600 53,000 500 15,000 21.000 18,400 2.600 0 14,400 17,200 24,400 2,000 $118,700 S133, 100 $7.400 $6,000 15,200 15,200 34.700 29,800 12,800 12,800 28.800 20,400 2,800 10 800 19,400 38,800 $ 118,700 $133,400 $81,900 15,800 BB 100 Alarca inc Income Statement For the Year Ended May 31, 2017 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense 524200 Salaties expert 44,200 Other expenses 14,600 Operating loss Other revenues and caperses Investment income (loss), Barton Corporation 11,600 Gain on sale of HTI investment 2,000 Lases on sale of machinery (500) Interest expense (8200) Net Iness 63,000 (16,900) 4,900 ($12,000)