Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2022, using the indirect method. With that said, computing the amount of cash paid to trade suppliers, and the amount paid for dividends.

Question B (12 marks; 22 minutes) Reporting of Cash Flows The Ka Shing Corporation had the following selected transactions during 2022: a. Sold a machine to another company. The machine was purchased for $15,000 three years ago and its accumulated depreciation was $8,000 up to the date of sale. The machine was sold for $8,000 cash. b. Sold merchandise to customers for a total of $1,500,000 during the year. The company sets its sales prices to achieve a gross profit percentage of 40%. Total expenses equaled $450,000, which includes depreciation expense of $50,000. c. Repurchased 2,000 common shares in the open market at a price of $24 per share. The average issuance price was $25 at that time. d. Declared dividends of $20,000 during the year. e. Redeemed (repurchased) bonds payable in the open market for $1,010,000 cash. The bonds had a carrying value of $995,000 at the date of redemption. Additional information