Current Assets: Cash Accounting receivable Total Current Assets Equipment Accumulated Depreciation Equipment 132 000 178,000 310,000 1.575,000 (650.000 1 235.000 112,000 167,000 279,000 1425,000 1675,000 1029 000 Uabilities and Shareholders' Equity Current Liabilities: Accounts payable Dividends payable Total Current Liabilities Common shares Retained earnings 167,000 23.000 190,000 5,000 960,000 1, 235,000 142,000 32,000 174,000 85,000 770,000 1029,000 Astro Manufacturing Ltd Statement of Income For the Year Ended December 31, 2020 1675 000 Sales Revenue Expenses Wage expense Utilities expense Depreciation expense Rent expense Interest expense Earnings from Operations Loss on sale of equipment Eamings before income tax Income tax expense Net Income 1.230,000 35,000 95.000 48.000 12.000 255 000 20 000 235 000 33 000 202 000 Additional information During the yeat equipment that had originally cost $150.000 was sold for 510,000 Required: (7 marks - 15 minutes) Prepare a statement of cash flows using the direcs method. Ne reading is required for the statement de just start with cash flow from operating activities Astro Manufacturing Ltd, has prepared a comparative statement of financial position, a statement of income, and some additional information as follows: Astro Manufacturing Ltd. Statement of Financial Position As at December 31st 2020 2019 Assets Current Assets Cash Accounting receivable Total Current Assets Equipment Accumulated Depreciation Equipment 132.000 178,000 310,000 1,575,000 (650,000) 1 235.000 112,000 167,000 279,000 1,425,000 1675,0001 1,029 000