The following data were provided by the accounting records of Williams Limited at year-end, December 31, 2021:

Williams Limited

Statement of Financial Position (As of December 31)
	2021		2020
Cash	$ 16,629		$ 22,300
Accounts receivable	155,330		122,095
Inventory	280,335		270,033
Property, plant, and equipment	680,144		560,011
Accumulated depreciation	(205,463)		(262,940)
Land	482,000		227,000
Total assets	$ 1,408,975		$ 938,499
Accounts payable	$ 99,355		$ 107,306
Salaries payable	27,755		23,548
Interest payable	3,650		2,550
Income tax payable	17,882		33,451
Long-term debt	300,000		125,000
Common shares	405,000		150,000
Retained earnings	555,333		496,644
Total liabilities and equities	$ 1,408,975		$ 938,499

Williams Limited

Statement of Comprehensive Income (For the year ended December 31, 2021)
Sales revenue		$ 430,225
Cost of goods sold		(92,050)
Gross margin		338,175
Depreciation expense		(55,023)
Selling and administrative expense		(102,093)
Other expenses		(22,114)
Interest expense		(17,500)
Loss on sale of operational assets		(12,055)
Gain on debt retirement		5,000
Income tax expense		(40,317)
Net earnings and comprehensive income		$ 94,073

Additional information:

• Sold operational assets for cash. Original cost of the operational asset was $150,000 and 75% depreciated.
• Ben Limited issued shares for land during the period.
• Long-term debt with a face value of $100,000 was repaid and other long-term debt was issued at a lower interest rate.
• Ben Limited declared and paid dividend; and
• Assume unexplained changes in accounts stem from logical transactions.

Required:

1. Prepare the Statement of Cash Flow according to IFRS using the indirect method with separate and any related note disclosure along with the following requirements:

(26 marks)

• Show cash paid of interest and income tax in the operating activities; and
• Show cash paid of dividend in the financing activities.