The following information has been extracted from the draft financial statements of FINLAND Corporation for the year N. Statement of financial position as at 31 December N+1N Additional information a. The statement of profit or loss for the year ended 31 December N shows the following: b. During the year, dividends paid were 570,000. c. Depreciation expense on non-current assets were 1,280,000. d. During the year, non-current assets with net book value of 400,000 were sold for 300,000 Required: a) Prepare the Statement of Cash Flows for FINLAND Corporation for the year N using the indirect method. b) Why do companies need "Cash Flow Statement"? What are differences between "Cash Flow Statement" and Statement of Profit or Loss? How do managers use each statement? The following information has been extracted from the draft financial statements of FINLAND Corporation for the year N. Statement of financial position as at 31 December N+1N Additional information a. The statement of profit or loss for the year ended 31 December N shows the following: b. During the year, dividends paid were 570,000. c. Depreciation expense on non-current assets were 1,280,000. d. During the year, non-current assets with net book value of 400,000 were sold for 300,000 Required: a) Prepare the Statement of Cash Flows for FINLAND Corporation for the year N using the indirect method. b) Why do companies need "Cash Flow Statement"? What are differences between "Cash Flow Statement" and Statement of Profit or Loss? How do managers use each statement