Question 5 The comparative statements of financial position of Glenn Inc. at the beginning and the end of the year 2022 appear as follows:

Required:

Prepare a statement of cash flows for the year 2022.

Glenn Inc. Statements of Financial Position Assets Equipment Less: Accumulated depreciationequipment Accounts receivable Cash Total Equity and Liabilities Share capital-ordinary Retained earnings Accounts payable Total Dec. 31, 2022 $ 39,000 (17,000) 91,000 45,000 $158,000 Jan. 1, 2022 Inc./Dec. $ 22,000 $17,000 Inc. (11,000) 6,000 Inc. 88,000 3,000 Inc. 13,000 32,000 Inc. $112,000 $100,000 38,000 20,000 $158,000 $ 80,000 17,000 15,000 $112,000 20,000 Inc. 21,000 Inc. 5,000 Inc. Net income of $34,000 was reported, and dividends of $13,000 were paid in 2022. New equipment was purchased, and none was sold