Hiver Heights Inc. are presented below River HEIGHTS INC. Comparative Statements of Financial Position Assets Cash 2022 $ 68,000 2021 Accounts receivable. Inventory. Prepaid expenses. Investments Property, plant, and equipment. Accumulated depreciation. Total $36,000 97,000 64,000 180,000 140,000 5,000 4,000 30,000 20,000 448,000 400.000 100.000 (80.000) $728.000 $584.000 Liabilites and Shareholders' Equity Accounts payable $76,000 $ 68,000 Accrued expenses payable. 20,000 24,000 Bonds payable. 260,000 200,000 Common shares 100,000 150,000 Retained earnings. Total 272.000 142.000 $728.000 $584.000 River HEIGHTS CORPORATION Statement of Income Year Ended December 31, 2022 Sales $1,000,000 Expenses Cost of goods sold. $580,000 Operating expenses (excluding depreciation). 180,000 Depreciation expense. 30,000 Interest expense. 18,000 Loss on sale of property, plant, and equipment. 8.000 $15.000 Income before income tax. 184,000 Income tax expense. 34.000 Net income... $150.000 Additional information regarding fiscal 2022 1. New property, plant, and equipment costing $56,000 was purchased for cash 2. Old property, plant, and equipment costing $18,000 was scrapped when the carrying amount was $8,000. 3. A cash dividend of $20,000 was declared and paid during the year. 4. Accounts payable pertain to merchandise purchases and accrued expenses pertain to operating expenses. Instructions Prepare the statement of cashflows using the indirect method. (25 marks)