A comparative statement of financial position for Blue Spruce Corporation follows: Additional information: 1. Net income for the fiscal year ended December 31,2023 , was $22,420. 2. In March 2023, a plot of land was purchased for future construction of a plant site. In November 2023, a different plot of land that originally cost $101,480 was sold for proceeds of $112,100. 3. In April 2023, notes payable amounting to $165,200 were retired through the issuance of common shares. In December 2023 , notes payable amounting to $29,500 were issued for cash. 4. FV-OCl investments were purchased in July 2023 for a cost of $17,700. By December 31,2023 , the fair value of Blue Spruce's portfolio of FVOCl investments decreased to $74,340. No FVOCl investments were sold in the year. 5. On December 31,2023 , equipment with an original cost of $47,200 and accumulated depreciation to date of $14,160 was sold for proceeds of $24,780. No equipment was purchased in the year. 6. Dividends on common shares of $37,760 and $17,700 were declared in December 2022 and December 2023 , respectively. The 2022 dividend was paid in January 2023 and the 2023 dividend was paid in January 2024 . Dividends paid are treated as financing activities. 7. A loss on impairment was recorded in the year to reflect a decrease in the recoverable amount of goodwill. No goodwill was purchased or sold in the year. (a) Prepare a statement of cash flows using the indirect method for cash flows from operating activities. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000). 4. FV-OCl investments were purchased in July 2023 for a cost of $17,700. By December 31,2023 , the fair value of Blue Spruce's portfolio of FVOCl investments decreased to $74,340. No FVOCl investments were sold in the year. 5. On December 31,2023 , equipment with an original cost of $47,200 and accumulated depreciation to date of $14,160 was sold for proceeds of $24,780. No equipment was purchased in the year. 6. Dividends on common shares of $37,760 and $17,700 were declared in December 2022 and December 2023 , respectively. The 2022 dividend was paid in January 2023 and the 2023 dividend was paid in January 2024 . Dividends paid are treated as financing activities. 7. A loss on impairment was recorded in the year to reflect a decrease in the recoverable amount of goodwill. No goodwill was purchased or sold in the year. (a) Prepare a statement of cash flows using the indirect method for cash flows from operating activities. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000). During the year, Blue Spruce retired \$ in notes payable by issuing common shares. eTextbook and Media