The following are the financial statements of Ivanhoe Ltd. IVANHOE LTD. Balance Sheet December 31 Assets 2024 2023 Cash $32,680 $17,200 Accounts receivable 25,800 12,040 Inventory 23,220 17,200 Equipment 51,600 67,080 Accumulated depreciation-equipment (24,940) (20,640) Total assets $108,360 $92,880 Liabilities and Shareholders' Equity Accounts payable $20,640 $12,900 Income tax payable 6,020 6,880 Notes payable 23,220 28,380 Common shares 15,480 12,040 Retained earnings 43,000 32,680 Total liabilities and shareholders' equity $108,360 $92,880 IVANHOE LTD. Income Statement For the Year Ended December 31, 2024 IVANHOE LTD. Income Statement For the Year Ended December 31, 2024 Sales $208.120 Cost of goods sold 150,500 Gross profit 57.620 Operating expenses 20,640 Proft from operations 36,980 Interest expense 2.580 Proht before income tax 34,400 Income tax expense 6,880 Proht for the year 527,520 Additional Information: 1. Dividends declared and paid were $17.200. Ivanhoe reports under IFRS and does not report dividends as operating activities 2 During the year, equipment was sold for $7,310 cash. This equipment cost $15,480 originally and had a carrying value of $7.330 at the time of sale 3. All depreciation expense. $12470, is included in the operating expenses. A. All sales and purchases are on account. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign sg-15,000 or in parenthesis eg (15,000) IVANHOE LTD. Cash Flow Statement Indirect Method Year Ended December 31,2024 Net Cash Provided by Operating Activities Profit for the Year Adjustments to reconcile profit to Net Cash Provided by Operating Activities Depreciation Expe Sa fuipment Increase in Accounts Recable crobe in story Question Part Score Calculate free cash flow (Show amounts that decrease cash flow with either a-signes-15.000 or in parenthesis eg (15,000) Free cash flow 5