Ovando Ltd. Statement of Financial Position December 31, 2018 and 2019 Assets Cash Accounts receivable Inventory Property, plant and equipment Accumulated depreciation 2019 $ 56,000 496,000 224,000 819,200 -275,200 $1.320.000 2018 $ 35,200 372,800 184,000 768,000 -240.000 S1.120.000 Liabilities and shareholders' equity Liabilities Accounts payable $ 400,000 S 416,000 240.000 160.000 Long-term debt Shareholders' equity Common shares Retained earnings 160,000 504.000 664.000 $1,320,000 120,000 440.000 560.000 $1,120,000 Ovando Ltd. Income Statement For the year ended December 31, 2019 $1,600,000 960.000 640,000 Sales Cost of goods sold Gross profit Other expenses Operating expenses Depreciation 412,800 35,200 448,000 S 192.000 Net income Additional information: New equipment was purchased for cash on December 31, 2019. Assume no significant non-cash financing or investment transactions took place during 2019. Ovando Ltd. applies IFRS and classifies dividends paid as a financing activity. Required Prepare a cash flow statement for the year ended December 31, 2019 using the indirect method