Crane Ltd., a private company reporting under ASPE, reported the following for the years ended May 31, 2021, and 2020. CRANE LTD. Balance Sheet May 31 Assets 2021 2020 Cash $26,300 $47,750 Accounts receivable 90,050 79,750 Inventory 188.000 160,750 Prepaid expenses 6.300 7,800 Land 140.750 81,500 Equipment 323.000 203.000 Accumulated depreciation (81,200) (40,750 ) $693,200 $539.800 Total assets Liabilities and Shareholders' Equity Accounts payable $43,450 $40,750 Dividends payable 7,800 6,300 Income taxes payable 3.500 7,300 Mortgage payable 135,000 80,750 Common shares 220,500 166,750 Retained earnings 282,950 237,950 $693.200 $539.800 Total liabilities and shareholders' equity Additional Information: 1. Profit for 2021 was $108.750. 2. Common shares were issued for $53,750. 3. Land with a cost of $53.750 was sold at a loss of $20,300. 4. Purchased land with a cost of $113,000 with a $58,750 down payment and financed the remainder with a mortgage note payable. 5. No equipment was sold during 2021. Prepare a cash flow statement for the year using the indirect method. (Show amounts that decrease cash flow with either a - signes -15,000 or in parenthesis eg. (15,000).) CRANE LTD. Cash Flow Statement - Indirect Method Year Ended May 31, 2021 Operating Activities Profit S $ 108750 Adjustments to reconcile profit to Net Cash Provided by Operating Activities $ Depreciation Expense 20300 Loss on Sale of Land 10300 Increase in Accounts Receivable Note X: Land with as cost of $ was purchased by paying $ cash and issuing a mortgage note payable for $