Use the following financial statements and additional information for Mega Ltd. to answer the required. Mega Ltd. Balance Sheet As at December 31, 2016 and 2015 2016 Cash $142,740 Accounts receivable 126,360 Inventories 146,250 Long-term investments 111,800 Equipment 351,000 Accumulated depreciation (65.000) $813.1.50 2015 $46,080 58,800 123,420 112,800 291,000 (62.400) $569.700 Accounts payable Income taxes payable Long term bonds payable Common shares Retained earnings $130,000 21,450 97,500 260,000 304,200 $813.150 $80,760 20,400 132,000 210,000 126.540 $569.700 $318,248 Mega Ltd. Income Statement For the year-ended December 31, 2016 Sales $479,892 Cost of goods sold 161.644 Gross margin Depreciation expense $58,800 Other cash expenses 17,374 Income tax expense 10,185 Interest expense 3.822 Loss on sale of equipment 16.800 Net income 106.981 $211267 Question 4 (continued) Important additional information: Accounts payable relates only to Cost of Goods Sold for cash flow purposes for Mega. There was no gain or loss on the long-term investments sold or the bonds retired. Old equipment with an original cost of $75,100 was sold for $2,100. New equipment was purchased in the year. Dividends of $33,607 were paid during the year. 4,500 additional shares of stock were issued August 01, 2016. At the 2015 year end, Mega had 19,500 common shares outstanding. During the year, the company sold a vehicle with a cost of $30,000 and accumulated depreciation of $12,000 for $20,000 cash. Required: Prepare a complete Statement of Cash Flow using the Indirect method