The 2015 accounting records of Outdoor Adventures Ltd reveal the following transactions and events. All values are in S. (The company's financial year ends on 31 December each year). Payment of interest 14,200 Cash sales 62,300 Retained earnings at the start of the year 510,000 Retained earnings at the end of the year 535,400 Receipt of dividend revenue 14,500 Payment of income tax 13,500 Profit 38,600 Payment of accounts payable for inventory 97,500 Payment for land 72,305 Collection of accounts receivable 191,300 Payment of salaries and wages 63,200 Depreciation expense 15,400 Proceeds from sale of aircraft 758,900 Purchase of equipment for cash 23,200 Loss on sale of aircraft 2,500 Payment of operating expenses 24,300 Required a)Prepare the cash flows from operating activities section of the statement of cash flows using the direct method b) How much was the payment of dividends? c) During the year equipment was sold and the company recorded a profit on sale of the equipment of $3,500. This equipment cost $25,000 originally and had a carrying amount of $10,000 at the time of sale. What were the proceeds from the sale of this equipment