uestion #5: Statement of Cash Flows Jackson Corp.'s 2015 financial statements showed the following $631,575 Sales Cost of goods sold Depreciation Other operating expenses $240,000 31,500 94,425 54,300 3,825 Income tax Loss on sale of equipment Gain on sale of investment (2,400 421,650 $209,925 Net earnings and comprehensive income As at December 31 2014 2015 Cash $ 85,350 67,950 126,900 216,750 587,250 (282,750) 67.500 $813600 110,250 231,000 684,750 (284,250) Accounts receivable Inventory Equipment Less: accumulated depreciation Investment Total $128,400 8,700 76,350 12,225 Accounts payable Income tax payable Bonds payable 56,250 378,000 Common shares 378,000 Retained earnings 298,500 894 600 S$813,600 Total Additional information During the year, equipment with an original cost of $123,000 was sold for cash Required Prepare the SCF, in good form using the indirect method. Include required note disclosure of non-cash transactions. Omit the separate disclosure of cash flow for interest, investment income, and income tax. Make logical assumptions regarding the nature of change in asset, liability, and equity accounts. 1