The ProOverseas Corporation employs indirect method to prepare its statement of cash flows. The list of various activities performed by the company during the year 2019 is given below: (5 marks) 1. Sale of equipment at a loss 2. Increase in accounts payable 3. Issuance of bonds 4. Increase in inventory 5. Purchase of equipment by issuing a note 6. Decrease in accounts receivable. 7. Payment of dividends. 8. Issuance of stock for cash. 9. Sale of land at a gain. 10. Depreciation expense. Required: Explain the effect of each activity on the statement of cash flows of the ProOverseas Corporation for the year 2019