The condensed comparative statement of financial position and income statement (statements not in properform) for Soccer Inc. as at/ for the year ended June 30, 2019, are as follows: SOCCER INC. Statement of Financial Position June 30, 2019 2018 $9,500 $12,500 Cash Accounts rece ivable 31,000 23,200 Interest receivable 1,600 900 Notes receivable 20,000 18,500 Inventory 63,600 56,000 20,000 Investments- at cost 16,250 Land 24,000 28,000 Building 100,000 72,000 Accumulated dep-building (48,000) (40,000) Equipment 35,000 36,800 Accumulated dep-equip (20,000) (26,400) $236,700 $197,750 Total assets Accounts payable $28,560 $24,800 Accrued liabilities 5,040 5,600 Unearned revenue 8,160 6,400 Income tax payable 3,440 5,000 Dividends payable 4,600 3,200 Loans payable 20,000 25,000 Total liabilities 69,800 70,000 Common shares 32,000 40,000 Retained earnings 95,750 126,900 Total shareholders' equity 166,900 127,750 Total liabilities and share holders' $236,700 $197,750 equity Income Statement for the Year Ended June 30, 2019 $290,000 Sales Cost of merchandise sold 125,600 Gross profit 164,400 Salary & admin expense 50,000 Interestexpense 1,900 20,000 Depreciation expense (3,200) Interest income Gain on sale of equipment (1,150) Loss on sale of land 2,000 Income tax expense 18,250 87,800 $76,600 Net income The following is additional information about Soccer's transactions during fiscal 2019: Land: Land was sold for cash. No land was purchased. Building: No buildings were disposed/sold. A building was purchased for cash Equipment: Equipment with a cost of $29,000 was sold for cash and equipment was purchased for cash. Equipment was also purchased of $2,500 in exchange for common shares. Investments were purchased for cash. Loans were taken out and remaining common shares were issued for cash The only changes in retained earnings were for net income and dividends. 1. 2. 3. 4. 5. Soccer Inc. follows ASPE. Required (a) Prepare the entire statement of cash flows in good form for Soccer Inc. for the year ended June 30, 2019. Prepare the operating activities section using the indirect method. Ensure you show all your calculations below. (See (b) as well.) (b) Provide full calculations forthe investing activities section. (c) Calculate for Soccer Inc. for the year endingJune 30, 2019: (I) Cash received from customers (II) Cash received for interest (Il) Cash paid for income taxes (IV) Cash paid for interest