Non-cash investing and financing activities: During the year, land with a value of \$ was acquired by issuing common shares of the same value. Proceeds from the Sale of Equipment v 9,400 Purchase Equipment 443,300 Net Cash Used for Investing Activities 433,900 Cash Flows from Financing Activities Repayment of Bank Loan 223,600 Dividends Paid 15,450 Net Cash Used for Financing Activities Net Cash Used for Financing Activities 15,450 Net Change in Cash 65,000 Opening Cash 53,200 CULLUMBER ADVENTURES LTD. Statement of Cash Flows, Indirect Method For the Year Ended March 31, 2024 Cash Flows from Operating Activities Net Income Depreciation Expense Loss on Sale of Equipment Increase in Accounts Receivable Increase in Inventory Increase in Accounts Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities $\begin{tabular}{|l|r|} \hline & 354,450 \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline & 126,450 \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline & 19,300 \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline & 46,800 \\ \hline \end{tabular} \begin{tabular}{|r|r|} \hline & -86550 \\ \hline \end{tabular} 146,900 $ 513,750 CULLUMBER ADVENTURES LTD. Statement of Financial Position As at March 31 20242023 Assets Current assets: \begin{tabular}{|c|c|c|} \hline Cash & $118,200 & $53,200 \\ \hline Accounts receivable & 148,000 & 101,200 \\ \hline Inventory & 434,650 & 348,100 \\ \hline Total current assets & 700,850 & 502,500 \\ \hline Equipment & 1,030,000 & 810,300 \\ \hline Accumulated depreciation, equipment & (472,650) & (541,100) \\ \hline \multirow[t]{2}{*}{ Land } & 223,600 & 0 \\ \hline & $1,481,800 & $771,700 \\ \hline \end{tabular} Current liabilities Cullumber Adventures Ltd. (CAL) is a Canadian manufacturer of Class B motorhomes. The company has been experiencing exponential growth and is preparing to raise additional capital to fund its growth. As the vice-president of finance, you are tasked with preparing the statement of cash flows that is required as part of the loan application or a public offering. You have the statement of financial position and the statement of income to help you prepare the statement of cash flows. In addition, you also have the following information: 1. In October, CAL acquired land with a value of $223,600 by issuing common shares with an equivalent value. The land is to be used as a site for a new manufacturing facility CAL hopes to construct in the next year. 2. In February, CAL sold equipment for $9,400 cash. The equipment had originally cost $223,600 and had a net carrying amount of $28,700 at the time of sale. 3. During the year, the company borrowed $24,600 by increasing its bank loan payable