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Monty Inc., a major retailer of high - end office furniture, operates several stores and is a publicly traded company. The company is currently preparing

Monty Inc., a major retailer of high-end office furniture, operates several stores and is a publicly traded company. The company is currently preparing its statement of cash flows. The comparative statement of financial position and income statement for Monty as at May 31,2023, are as follows:
Monty Inc.
Statement of Financial Position
May 31,2023, and May 31,2022
2023
2022
Assets
Cash
$59,200
$23,100
Accounts receivable
77,000
55,400
Inventory
188,100
199,000
Prepaid insurance
8,700
6,800
Total current assets
333,000
284,300
Plant assets
581,000
512,000
Less: Accumulated depreciation
145,300
120,300
Net plant assets
435,700
391,700
Total assets
$768,700
$676,000
Liabilities and Shareholders' Equity
Accounts payable
$122,000
$114,200
Salaries and wages payable
11,200
12,900
Interest payable
5,100
2,500
Total current liabilities
138,300
129,600
Mortgage payable
83,000
100,000
Total liabilities
221,300
229,600
Shareholders' equity
Common shares
405,000
370,000
Retained earnings
142,400
76,400
Total shareholders' equity
547,400
446,400
Total liabilities and shareholders' equity
$768,700
$676,000
Monty Inc.
Income Statement
For the Year Ended May 31,2023
Sales
$960,000
Cost of goods sold
422,000
Gross margin
538,000
Expenses
Salaries and wages expense
208,900
Other operating expenses
121,600
Depreciation expense
25,000
Total operating expenses
355,500
Operating income
182,500
Interest expense
26,100
Income before income tax
156,400
Income tax expense
55,400
Net earnings
$101,000
The following is additional information about transactions during the year ended May 31,2023, for Monty, which follows IFRS.
1. Plant assets costing $69,000 were purchased by paying $47,000 in cash and issuing 5,000 common shares.
2. In order to supplement its cash, Monty issued 4,000 additional common shares.
3. Cash dividends of $35,000 were declared and paid at the end of the fiscal year. Dividends paid are treated as financing
activities.
1.) Prepare a statement of cash flows for Monty for the year ended May 31,2023 using the direct method.
2.) Schedule of non-cash investing and financing activities $?
Please provide detailed solutions. Thank you so much.

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