The following information is available for the Selection Company: Selection Company Balance Sheets At December 31 Assets: Cash Accounts receivable Merchandise inventory Long-term investments Equipment Accumulated depreciation Total assets Liabilities: Accounts payable Income taxes payable Bonds payable Total liabilities Equity: Share capital Share premium Retained earnings Total equity Total liabilities and equity 2022 $ 22,500 40,000 80,000 70,000 200,000 (32.500) $380,000 $ 78,000 13,000 57.000 $148,000 140,000 15,000 77,000 $232.000 $380.000 2021 $10,000 20,000 70,000 77,000 170,000 (30,000) $317.000 $ 48,000 12,000 79,000 $139,000 115,000 10,000 53,000 $178,000 $317.000 Selection Company Income Statement For Year Ended December 31, 2022 Sales Cost of goods sold Depreciation expense Other operating expenses Interest expense Other gains (losses): Loss on sale of equipment Profit before taxes Income taxes expense Net profit $ 97,000 35,000 57,000 2.400 $288.000 (10,000) 86,600 33.000 $ 53.600 Additional information: a. There was no gain or loss on the sales of the long-term investments, nor on the bonds retired. b. Old equipment with an original cost of $45,000 was sold during the period. c. New equipment was purchased during the period. d. Retained earnings account is only affected by net profit and dividend payment. e. Additional shares were issued for cash. Required: (1) Prepare a complete statement of cash flows for Selection Company in 2022 using the indirect method. (14 marks) (2) Describe the relevance of statement of cash flows to six different decision makers. (6 marks)