Graphene Plastics Company imports graphite from Australia for conversion to graphene to make hockey sticks in Canada. As CEO, you are busy preparing a loan application, which asks for a cash flow statement for the most recent fiscal period. You have the following financial information. GRAPHENE PLASTICS COMPANY Comparative Statement of Financial Position Oct. 31, 2020 Oct. 31, 2019 Assets Cash $75,300 $79,300 Accounts receivable (net) 121,100 136,400 Inventory 210,900 176,400 Total current assets 407,300 392,100 Equipment 298,400 231,200 Accumulated depreciation (144,700) (171,600) Total Assets $561,000 $451,700 Liabilities and shareholders' equity Liabilities and shareholders' equity Current liabilities: Accounts payable $79,600 $64,500 Dividends payable 17,000 22,200 Total current liabilities 96,600 86,700 Loan payable 108,200 124,400 Total liabilities 204,800 211,100 Common shares 109,600 109,600 Retained earnings 246,600 131,000 Total shareholders' equity 356,200 240,600 Total liabilities and shareholders' equity $561,000 $451,700 GRAPHENE PLASTICS COMPANY Statement of Income For the year ended October 31, 2020 Sales revenue $609,500 Cost of goods sold 264,600 Gross profit 344,900 Expenses Wages expense 49,700 Utilities expense 19,800 Depreciation expense 25,000 Rent expense 15,200 Interest expense 9,100 Total expenses 118,800 Loss on sale of equipment 9,000 Net income $217,100 Additional information: During the year, Graphene sold a piece of its equipment. The equipment sold had originally cost $74,500 and was sold for $13,600. Graphene Plastics Company Statement of Cash Flows, Indirect Method For the Year Ended October 31, 2020 $ > $ A Supplemental Cash Flow information: Cash paid for interest $ Determine the cash flows from operating activities using the direct method. (Show amounts that decrease cash flow with either a - signe.g.-15,000 or in parenthesis e.g. (15,000).) Graphene Plastics Company Statement of Cash Flows, Direct Method For the Year Ended October 31, 2020 $ > >