Planet Express has the following financial statements: $ 671,708 268,683 403,025 Planet Express Income Statement For the year ended April 30, 2021 Net sales Cost of goods sold Gross profit Operating expenses: Depreciation expense Salaries & wages expense Other operating expenses Total operating expenses Operating income Other revenues/gains and expenses)/(losses) Gain (or loss) on sale of asset Interest expense Income before tax Income tax expense Net income 57,293 51,425 68,817 177,535 225,490 (3,242) (4,192) 218,056 54,514 $ 163,542 Planet Express Balance Sheet As at April 30 2021 2020 ASSETS Cash Accounts receivable Inventory Land Buildings Accumulated depreciation - building Equipment Accumulated depreciation - equipment Patent Copyright Total Assets LIABILITIES $ 47,102 $ 36,801 19,079 42,125 90,927 90,228 28,281 28,281 827,110 689,258 (333,948) (294,660) 109,800 95,478 (54,379) (54,423) 89,713 89,713 149,391 149,391 $ 973,076 $ 872,192 $ 973,076 $ 872,192 Total Assets LIABILITIES Accounts payable Unearned revenue Income taxes payable Bank loan payable Bonds payable Total liabilities SHAREHOLDERS' EQUITY Preferred shares Common shares Retained earnings Total shareholders' equity Total Liabilities and Shareholders' Equity $ 55,014 $ 83,399 18,780 88,748 7,021 8,447 262,300 139,730 232,994 314,112 576,109 634,436 36,856 36,856 84,841 70,701 275,270 130,199 396,967 237,756 $ 973,076 $ 872,192 Additional information: During 2021, Planet Express disposed of equipment with the following details: equipment original cost $25,785 equipment book value at time of disposal $7,736 Prepare a statement of cash flows, using the indirect method. Planet Express follows ASPE