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Thafallawinn infarmatianiafarrananud Itd farthawanuandad luann on 2024 Liabilities and shareholders' equity Current liabilities CONCORD LTD. Statement of Income For the year ended June 30, 2024 \begin{tabular}{lr} Sales revenue & $437,000 \\ Cost of goods sold & 232,000 \\ \hline Gross profit & 205,000 \end{tabular} Expenses \begin{tabular}{lrrr} \hline Wages expense & $63,400 & \\ Depreciation expense & 11,600 & \\ Rent expense & 18,100 & \\ \hline Income tax expense & 18,300 & & 111,400 \\ Operation income & & 93,600 \\ Gain on sale of equipment & & $98,000 \\ \hline Net income & & \\ \hline \end{tabular} Additional information: 1. Land was sold at cost and none was purchased during the year. 2. In January, Concord sold for cash equipment that had an original cost of $28,900 and a net carrying amount of $15,500. Jsing the information above, prepare the statement of cash flows for Concord Ltd. for the year ended June 30,2024 , using t A Determine the cash flows from operating activities using the direct method. (Show amounts that decrease cash flow with either a sign e.g. 15,000 or in parenthesis e.g. (15,000).)