Other important information:

During the year, a piece of equipment that originally cost $$100,000$ was sold for cash. Net book value was $$30,000$ at the time of the sale.

Long$-$term investments were purchased for cash during the year.

All accounts payable transactions were related to the purchase of inventory.

Administrative expenses includes depreciation expense

Common shares worth $$50,000$ were issued for the purchase of equipment

REQUIRED

Prepare the statement of cash flow using the direct method, Aylmer follows ASPE.

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