od P17-48 GG's Coffee Ltd.'s accountants have assembled the following data for the year ended December 31, 2020: C D E 2020 2019 Increasel 12345 2 Current assets Cash and cash equivalents $75,500 $56,750 (Decrease Accounts receivable 174,250 155,500 271,500 212,500 Inventory 69 6 Current liabilities 7 Prepaid expenses Note payable (for inventory purchases) Accounts payable 13,250 10,250 56,500 45,750 132,250 139,500 8 9 Income tax payable Accrued liabilities 96,500 41,750 38,750 68,000 Transaction data for 2020: Acquisition of building. Acquisition of land by issuing long-term note payable. Acquisition of long-term $325,750 Issuance of long-term note payable to borrow cash. 237,500 Loss on sale of equipment... Net income. $36,000 16,750 199,000 investment.... Amortization expense Collection of loan... 79,000 Payment of cash dividends. 60,250 Repurchase and retirement of 90,750 71,750 Issuance of common shares common shares. Retirement of bonds payable by 85,750 for cash... 123,000 issuing common shares. 157.500 Stock dividends. 79,500 Sale of equipment for cash. 145.000 Required 1. Prepare GG's Coffee Ltd.'s cash flow statement using the indirect method to report operating activities. Note any additional disclosures that are required. 2. Evaluate GG's Coffee Ltd.'s cash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation