Sunland Ltd., a private company reporting under ASPE, reported the following for the years ended May 31, 2021, and 2020.

SUNLAND LTD. Balance Sheet May 31 Assets 2021 Cash $24,800 Accounts receivable 88,300 Inventory 183,000 Prepaid expenses 5,800 Land 134,500 Equipment 318,000 Accumulated depreciation (76,200 Total assets $678,200 Liabilities and Shareholders' Equity Accounts payable $42,700 Dividends payable 7,300 Income taxes payable 3,000 Mortgage payable 130,000 Common shares 218,000 Retained earnings 277,200 Total liabilities and shareholders' equity $678,200 2020 $46,500 78,500 159,500 7,300 79,000 198,000 (39,500 $529,300 $39,500 5,800 6,800 79,500 165,500 232,200 $529,300 Additional Information: 1. Profit for 2021 was $107,500. 2. Common shares were issued for $52,500. 3. Land with a cost of $52,500 was sold at a loss of $19,800. Purchased land with a cost of $108,000 with a $57,500 down payment and financed the remainder with a mortgage note 4. payable. 5. No equipment was sold during 2021. Prepare a cash flow statement for the year using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)Prepare a cash flow statement for the year using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) SUNLAND LTD. Cash Flow Statement - Indirect Method Year Ended May 31, 2021 V Net Cash Used by Operating Activities V $ 107,500 Adjustments to reconcile profit to Net Cash Provided by Operating Activities Depreciation Expense $ 36,700 Loss on Sale of Land 19,800 Increase in Accounts Receivable (9800 Increase in Inventory (23500) Decrease in Prepaid Expenses 1500 Increase in Accounts Payable 3200 Payments of Cash Dividends V V V to V V V V to V V V V V $ Note X: Land with as cost of $ was purchased by paying $ cash and issuing a mortgage note payable for $