Waterway Inc. reported the following information at the end of its 2019 fiscal year. Waterway Inc. Statement of Financial Position As at April 30 2020 207.000 Assets Cash Accounts receivable Inventory Prepaid operating expenses Long term investments Equipment Less: Accumulated depreciation 115,000 107,000 21,000 188,000 1,233,000 (371,000) 1,500,000 2019 154,000 93,000 254,000 12,000 87,000 1,164,000 (379,000) 1,385,000 Liabilities and Shareholders' Equity Accounts payable Income tax payable Bonds payable Common shares Retained earnings 51,000 27,000 676,000 292,000 454,000 1,500,000 65,000 23,000 754,000 249,000 294,000 1,385,000 Waterway Inc. Income Statement For the year ended April 30, 2020 Sales revenue 1,123,000 Cost of goods sold 698,000 Gross profit 425,000 Operating expenses 225,000 Income from operations 200,000 Interest expense 5,000 Gain on disposal of equipment 3,700 Income before income tax 198,700 Income tax expense 20,190 Net income $178,510 ADDITIONAL INFORMATION: Depreciation expense is included in operating expenses." All accounts payable transactions were related to the purchase of inventory. During the year, a piece of equipment that originally cost $52,400 was sold for cash. The equipment was 70% depreciated at the time of the sale. Long-term investments were purchased for cash during the year. Prepare a statement of cash flows, in good form, for Waterway Inc., using the indirect method and follows ASPE. Waterway Inc. Statement of Cash Flows $ Adjustment to reconcile net income to net cash provided by operating activities