The comparative unclassified statement of financial position for Sandhill Ltd. follows: Accumulated depreciation Total assets $608,000$528,000$50,000) Liabilities and Shareholders' Equity Accounts payable Refund liability Bank loan payable (noncurrent) Common shares 205,000170,000 Retained earnings Total liabilities and shareholders' equity $608,000205,000$528,000136,000 Additional information pertaining to 2021 : 1. Net income was $93,000. 2. Sales were $976,000. 3. Cost of goods sold was $754,000. 4. Operating expenses were $41,000, exclusive of depreciation expense. 5. Depreciation expense was $47,000. 6. Interest expense was $18,000. 7. Income tax expense was $29,000. 8. Long-term investments were sold at a gain of $6,000. 9. No equipment was sold during the year. 10. $13,000 of the bank loan was repaid during the year. 11. Common shares were issued for $35,000. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 45,000, or in parenthesis e.8. (45,000). Depreciation expense $47000 Gain on sale of long-term investments 6000 Increase in estimated inventory returns 1000 Increase in accounts receivable 4000 Increase in refund liability Decrease in inventory Decrease in accounts payable 15000 Net cash provided by operating activities Cash flows from investing activities Purchase of equipment Net cash used by investing activities Cash flows from financing activities Payment of cash dividends Net cash used by investing activities Cash flows from financing activities Payment of cash dividends Repayment of bank loan Issue of common shares Net cash used by funancing activities Net increase in cash Cash, January 1 Payment of cash dividends Repayment of bank loan 13000 Issue of common shares Net cash used by financing activities Net increase in cash Cash, January 1 Cash, December 31