Webcam Question 7 (18 points) Listen Pare 21 2 The 2020 financial statements of Donovan, Inc. ate presented below all amounts are in thousands of Canadian dollars). Donovan Ine. Comparative Statement of Financial Position Dec.31.2020 Page 3: 2020 2019 Change Page 4: S48 58 40 99 615 (170) $64 49 53 100 550 (150) 4 S16 9 13 1 65 20 - Page 5: Cash Accounts receivable, net Inventory Long-term investment Equipment Accumulated depreciation equipment Land Total Assets Accounts payable Loan payable Common shares Retained earnings Total Liabilities and Equity 17 5 99 $789 $107 80 480 122 $789 82 $748 $136 100 400 112 $748 29 20 80 10 Page 6: Donovan Inc. Statement of Income Dec.31.2020 MacBook Pro Donovan Ine. Statement of Income Dec.31.2020 Page 2: 2 ce 3: Revenues and other income $540 Cost of goods sold 240 Depreciation expense 30 Other operating expenses 240 Loss on sale of equipment 20 Net Income S10 Other information 1. Donovan's long-term investment is accounted for using FVTPL. No long-term investments were bought or sold during the year. 2. The company sold plant assets during the year that had originally cost $100. 3. The company issued common shares during the year in exchange for plant assets. No other shares were issued during the year. 4. Donovan treats dividends and interest received as operating cash flows. Required: 3: In the space below, prepare, in good form, the 2020 statement of cash flows, using the indirect method. Show and clearly label supporting calculations, cross-referenced to items in your statement of cash flows, to be eligible for partial credit. Note that all numbers in this question are in thousands MacBook Pro