The income statement and unclassified statement of financial position for Ivanhoe, Inc. follow: Question 1 of 5 1. Prepaid expenses and accrued liabilities relate to operating expenses. 2. An unrealized gain on held for trading investments of $7,000 was recorded. 3. New equipment costing $82,000 was purchased for $24,800 cash and a $57,200 long-term bank loan payable. 4. Old equipment having an original cost of $58,500 was sold for $1,100. 5. Accounts payable relate to merchandise creditors. 6. Some of the bank loan was repaid during the year. 7. A dividend was paid during the year. 8. Operating expenses include $46,700 of depreciation expense and a $6,000 loss on disposal of equipment. (a) Prepare the statement of cash flows, using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Assignment 5 Question 1 of 5 Cash Payments To suppliers For operating expenses For interest For income taxes Net cash provided by operating activities B B Net cash used by investing activities IVANHOE, INC. Year Ended December 31, 2018 -14 $ $ $ Note X to the Statement of Cash Flows: During the year, the company purchased equipment costing \$ by paying $24,800 cash and issuing a $57,200 bank loan payable