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XYZ LTD. Statement of Financial Position As at March 31 2024 . 2023 Assets Current assets: Cash $ 32,970 $ 45,900 Accounts receivable 62,000 105,000 Inventory 91,000 55,200 Total current assets 185,970 206,100 Equipment 307,800 297,000 Accumulated depreciation, equipment (128,520) (111,420) $ 365,250 $ 391,680 Liabilities and shareholders equity Current liabilities: Accounts payable $ 74,900 $ 122,680 Total current liabilities 74,900 122,680 Bank loan payable 95,050 80,000 Common shares 180,000 180,000 Retained earnings 15,300 9,000 $ 365,250 $ 391,680 XYZ LTD. Statement of Income For the year ended March 31, 2024 Sales revenue $333,900 Cost of goods sold 157,500 Gross profit . 176,400 Expenses Wages expense $86,400 Interest expense 14,400 Depreciation expense 25,000 Loss on sale of equipment 9,000 Income tax expense 17,300 152,100 Net income $ 24,300 Additional information: During the year, equipment costing $63,000 was sold for $46,100. The company made no principal repayments on its loans during the year. Required: Prepare the statement of cash flows for XYZ Ltd for the year ended March 31, 2024. Use the indirect method for determining cash flows from operating activities.