These are the financial statements for Simpsons Ltd Balance Sheet as at 31 December 2022 Statement of profit or loss for the year ended 31 December 2022 The following additional data were provided: 1. The entity paid a cash dividend during the year. 2. During the year equipment was sold for cash. This equipment cost $18,000 originally and had a carrying amount of $8,500 at the time of sale. 3. All depreciation expense is in the selling expense category. 4. All operating expenses except for depreciation were paid in cash. Required: a) Prepare a statement of cash flows using the direct method b) Comment on the results of the cash flow statement