Problem 6 (14 marks) (25 minutes) Windle Ltd.'s comparative balance sheets at December 31, 20x8 and 20x7, and its income statement for the year ended December 31, 20x8 are as follows. WINDLE LTD. Balance Sheets Dec37 Dec 31 Net 20x8 20x7 Change Cash $ 68,000 S 36,000 $ 32,000 Accounts receivable 92,000 39,000 53,000 Inventory 119,000 87,000 32,000 Long-term investment 0 18,000 (18,000) Land 80,000 80,000 0 Buildings and equipment 463,000 475,000 (12,000) Accumulated depreciation (123.000) (101.000) (22.000) $ 699,000 S 634.000 S 65.000 Carleton Central MyCarleton Email Accounts payable $ 22,000 S 40,000 $(18,000) Bonds payable 25,000 0 25,000 Preferred shares 85,000 85,000 0 Common shares 423,000 423.000 0 Retained earnings 144.000 86.000 58.000 S 699.000 5.634.000 S 65.000 WINDLE LTD. Income Statement for the year ended December 31, 20x8 Sales $900,000 Cost of goods sold 600.000 Gross profit 300.000 Operating expenses 157,000 Depreciation expense 43.000 Loss on sale of equipment 4,000 Gain on sale of long-term investment (12.000 Cost of goods sold 600.000 Gross profit 300,000 Operating expenses 157,000 Depreciation expense 43,000 Loss on sale of equipment 4,000 Gain on sale of long-term investment (12,000) 192.000 Net income $ 108,000 Additional information: sold equipment that had originally cost $32,000 and had $21,000 of accumulated depreciation. Required - Prepare the following sections of the statement of cash flow for the year ended December 31, 20x8: a) Cash flow from operations. b) Cash flow from investing