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Scott Lid Income Statement for the year ended 30 June 2019 Net Sales Revenue 800,700 Less: Cost of Goods Sold -410,100 Gross Profit 390,600 Less: Expenses (including depreciation of $40,000) -190,000 NET (OPERATING) PROFIT 200,600 Scott Ltd Balance Sheet As at 30 June 2019 ASSETS 2019 2018 Cash at bank 74,000 91,000 Accounts receivable 96,000 91,000 Inventory 115,000 124,000 Building 360,000 390,000 Less: Accumulated Depreciation -80,000 -90,000 TOTAL ASSETS 565,000 506,000 LIABILITIES Accounts payable 77,000 72,000 Wages payable 17,000 23,000 Mortgage Loan 90,000 TOTAL LIABILITIES 184,000 95,000 NET ASSETS 381,000 411,000 EQUITY Share Capital 150,000 150,000 Retained Earnings 231,000 261,000 TOTAL EQUITY 381,000 411,000 Required Prepare the note for Scott Lid reconciling operating profit with the net cash flow from operating activities for the year ending 30 June 2019. Net cash from Operating Activities at 30 June 2019 was $243,600 (use the template on the following page).Reconciliation of Net Operating Profit after Tax to Net Cash provided by Operating Activities for the year ending 30 June 2019