Headland Inc. reported the following information at the end of its 2019 fiscal year. Headland Inc. Statement of Financial Position As at April 30 Assets 2020 Cash 202,000 Accounts receivable 114,000 Inventory 109,000 Prepaid operating expenses 18,000 Long term investments 187,000 Equipment 1,203,000 Less: Accumulated depreciation (369,000) 1,464,000 Liabilities and Shareholders' Equity Accounts payable 53,000 Income tax payable 28,000 Bonds payable 681,000 Common shares 300,000 Retained earnings 402,000 1,464,000 2019 154,000 96,000 246,000 13,000 86,000 1,129,000 (371,000) 1,353,000 65,000 27,000 754,000 253,000 254,000 1,353,000 Headland Inc. Income Statement For the year ended April 30, 2020 Sales revenue 1,108,000 Cost of goods sold 679,000 Gross profit 429,000 Operating expenses 220,000 Income from operations 209,000 Interest expense 4,400 Gain on disposal of equipment 3,600 Income before income tax ,200 Income tax expense 20,230 Net income $187,970 ADDITIONAL INFORMATION: . Depreciation expense is included in "operating expenses." All accounts payable transactions were related to the purchase of inventory. During the year, a piece of equipment that originally cost $48,900 was sold for cash. The equipment was 70% depreciated at the time of the sale. Long-term investments were purchased for cash during the year. Prepare a statement of cash flows, in good form, for Headland Inc., using the indirect method and follows ASPE. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Headland Inc. Statement of Cash Flows Adjustment to reconcile net income to net cash provided by operating activities