The comparative balance sheet for Crane Adventures Ltd., a private company reporting under ASPE, follows: CRANE ADVENTURES LTD. Balance Sheet December 31 Assets 2021 Cash $41.710 Accounts receivable 73.720 Inventory 155.200 Prepaid expenses 11,640 Land 48.500 Equipment 261,900 Accumulated depreciation (87,300 Total assets $505,370 Liabilities and Shareholders' Equity Accounts payable $41,710 Dividends payable 7.275 Income taxes payable 2.425 Bonds payable 116.400 Common shares 200,790 2020 $12,222 82,450 166,840 4,850 72.750 184.300 (38.800) $484,612 $36.860 4.850 5.820 174,600 161.990 o e here to search . RI Accounts payable Dividends payable Income taxes payable Bonds payable Common shares Retained earnings Total liabilities and shareholders' equity $41,710 7.275 2,425 116,400 200,790 136.770 $505,370 $36,860 4,850 5,820 174,600 161,990 100,492 $484,612 3 4. How N O Additional information: Profit for 2021 was $67,803. 2 Bonds payable of $58,200 were retired at maturity. Common shares were issued for $38,800. Land was sold at a loss of $9.700. 5 No equipment was sold during 2021. 6. Net sales for the year were $657.660. Cost of goods sold for the year was $426,606, Operating expenses (not including depreciation expense) were $77.600. 9. Interest expense was $4.850. 10. Income tax expense was $22.601 8 O B Type here to search Prepare a cash flow statement using the indirect method. (Show amounts that decrease cash flow with elther a-signes -15,000 or in parenthesis eg (15,0001) CRANE ADVENTURES LTD. Cash Flow Statement-Indirect Method Year Ended December 31, 2021 Operating Activities Profit Adjustments to reconcile profit to Operating Activities Depreciation Expense $ Loss on Sale of Land Decrease in Accounts Receivable Decrease in twentory Increase in Prepaid Expenses in O 1 Type here to search E Decrease in Accounts Receivable Decrease in Inventory Increase in Prepaid Expenses Purchase of Equipment Type here to search RI 13