Edward Rashleigh is a corporate accountant with Noble Inc., a small independent book publisher and retailer. Noble has a small storefront and operates an e-commerce site. Edward joined Noble in July of Year 2 (the current year) and is preparing the company's year-end financial statements in accordance with ASPE. He has been asked to prepare the cash flow statement using the direct method. Edward has prepared the following: - Appendix I, balance sheet - Appendix II, income statement - Appendix III, excerpts from the notes to the financial statements Complete the task in the Excel Task file. Appendix I: Balance sheet Noble Inc. Balance sheet As at December 31 Appendix II: Income statement Noble Inc. Income statement For the year ending December 31 Appendix III: Excerpts from the notes to the financial statements Capital assets All purchases and sales of capital assets during the current year affected cash. Equipment and computers and software purchases and sales: During the current year, the company sold a small mechanical printing press for $40,000 with a net book value of $40,000. It used the proceeds of the sale to purchase a new automated press for $90,000. As the new press was purchased in mid-December and was not operational until December 31, no amortization was taken during the year. Long-term debt Noble has agreed to pay the Regal Bank of Canada $28,000 in principal repayments each year at December 31. Additional principal repayments can be made at the company's request. Jsing Noble's draft financial statements (Appendix I and Appendix II) and excerpts from the notes to the financial statements (Appendix III), prepare Noble's cash flow statement for the lear ending December 31 , Year 2 , using the direct method. nstructions: - In Column A, select a cash flow item from the drop-down list and allocate it under the appropriate heading below as an operating, investing, or financing activity. Each cash flow item MUST be used. - In Column B, enter the corresponding cash flow impact for each cash flow item in Column A. Round all amounts to the nearest dollar. If there is no cash flow impact for a cash flow item, enter "0." Enter cash inflows as positive numbers and cash outflows as negative numbers (for example, -10). \begin{tabular}{|c|l|c|} \hline & \multicolumn{1}{|c|}{ A } & B \\ \hline 1 & Cash flows from operating activities & Amount \\ \hline 2 & & \\ \hline 3 & & \\ \hline 4 & & \\ \hline 5 & & \\ \hline 6 & & \\ \hline 7 & Net cash from operating activities & \\ \hline 8 & Cash flows from investing activities & \\ \hline 9 & & \\ \hline 10 & & \\ \hline 11 & & \\ \hline 12 & Net cash from investing activities & \\ \hline 13 & Cash flows from financing activities & \\ \hline 14 & & \\ \hline 15 & & \\ \hline 16 & & 0 \\ \hline 17 & Net cash from financing activities & \\ \hline 18 & Net change in cash & \\ \hline 19 & Cash at beginning of year & \\ \hline 20 & Cash at end of year & \\ \hline \end{tabular} \begin{tabular}{|l|} \hline Column A drop-down options \\ \hline Collections from customers \\ \hline Payment of dividends \\ \hline Payments for income taxes \\ \hline Payments for interest \\ \hline Payments to employees \\ \hline Payments on loan \\ \hline Payments to suppliers \\ \hline Proceeds from sale of equipment \\ \hline Proceeds from loan \\ \hline Purchase of equipment \\ \hline Purchase of land \\ \hline \end{tabular}