Condensed statement of financial position and statement of income are given below for Sinclair Corp. Sinclair Corp Comparative Statement of Financial Position at December 31 (in millions of Canadian dollar) Cash Canada Treasury Bills1-month maturity FV-NI investments Accounts receivable Allowance for doubtful accounts Inventory Prepaid expenses Land Plant assets Accumulated depreciation - plant assets Patents 2019 $365 83 110 750 85 600 25 150 1,800 -600 180 $3.378 2018 $280 75 142 660 75 660 16 100 1,800 -570 201 $3.289 Accounts payable (used only for merchandise inventory) Accrued liabilities Dividends payable Income taxes payable Bonds Deferred tax liability Preferred shares Common shares Retained Earnings $130 $35 80 75 15 39 15 5 2,010 1,935 30 45 150 100 268 440 680 615 $3,378 $3,289 Sinclair Corp Statement of Income Year Ended December 31, 2019 (in millions of Canadian dollar) $4,600 3.220 1,380 910 470 Sales Cost of goods sold Gross margin Other operating expenses Income from operations Other expenses and gains Interest expense Impairment loss on patents FV-NI Investment loss Income before tax Income tax expense: Current Deferred Net income $120 $21 16 157 313 98 ($15) 83 $230 Additional information: 1. Sinclair, which follows IFRS, has adopted the policy of classifying interest paid as operating activities and dividends paid as financing activities. 2. FV-NI investments in WLU Corp. were sold on the December 21, and there were no unrealized gains or losses on the remaining FV-NI investments. The FV-NI investments' carrying amount and market value were the same at December 31, 2019. 3. The bonds were issued at a discount. No new bonds were issued. No existing bonds were retired. 4. Accounts receivable of $30 million were written off. 5. Intangible assets were impaired. 6. Sinclair paid $182 million to repurchase and cancel common shares. Instructions: Prepare the 2019 statement of cash flows in good form using the direct method. Ignore additional note disclosures. Show ALL necessary calculations