The following is a comparative SFP position and income statement for Splish Corporation: Splish Corporation Statement of Financial Position As at September 30 Assets 2020 2019 Cash 94,900 128,500 Accounts receivable 106,000 81,100 Inventory 110,700 227,100 Prepaid operating expenses 26,350 19,850 Long term investments 251,500 122,900 Equipment 1,419,250 1,321,250 Less: Accumulated depreciation (520,000 ) (450,000 ) 1,488,700 1,450,700 Liabilities and Shareholders' Equity Accounts payable 74,850 82,850 Income tax payable 21,500 14,500 Bonds payable 900,250 950,250 Common shares 200,700 140,100 Retained earnings 291,400 263,000 1,488,700 1,450,700 Splish Corporation Income Statement For the year ended September 30, 2020 Sales revenue 892,800 Cost of goods sold 625,000 Gross profit 267,800 Operating expenses 185,000 Income from operations 82,800 Interest expense 3,000 Gain on disposal of equipment 2,100 Income before income tax 81,900 Income tax expense 32,000 Net income $49,900 ADDITIONAL INFORMATION: Depreciation expense is included in operating expenses. All accounts payable transactions were related to the purchase of inventory. During the year, a piece of equipment that originally cost $100,000 was sold for cash. The equipment was 60% depreciated at the time of the sale. Long-term investments were purchased for cash during the year. Prepare a statement of cash flows, in good form, for Splish Corporation, using the direct method. Splish Corporation follows ASPE. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Splish Corporation Statement of Cash Flows For the Year Ended September 30, 2020 Cash Flows from Operating Activities Cash Received from Customers $ Cash Paid to Suppliers Cash Paid for Taxes Cash Paid for Interest Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment Purchase of Equipment Purchase of Long-Term Investment Net Cash Used by Investing Activities Cash Flows from Financing Activities Paid Dividends Issued Common Shares Paid Bonds Net Cash Provided by Financing Activities Cash Balance, Beginning of Year Cash Balance, End of Year $