ALGONQUIN Centre for Continuing COLLEGE | & Online Learning Question 4: (20 marks) The partial comparative balance sheets of High Movie Company at March 31, 2021, reported the following: March 31 2021 2020 Current assets: Cash and cash equivalents $7,000 $16,000 Accounts receivable 14,800 22.200 Inventories 63,900 60,700 Prepaid expenses 3,400 1,600 Current liabilities: Accounts payable 57,700 55,300 Accrued liabilities 14.600 16,700 Income tax payable 14,400 10.800 High's transactions and results for the year ended March 31, 2021 also included the following: Acquisition of land by issuing note payable $101,000 Payment of cash dividend 31,000 Cash purchase of equipment 78,600 Issuance of long-term note payable to borrow cash 45,000 Sale of long-term investment for cash 13,300 Depreciation expense 15,000 Cash purchase of building 44,000 Net income 57,000 Issuance of common shares for cash 8,000 Share dividend 18,000 Required: Prepare High Movie Company's statement of cash flows for the year ended March 31, 2021, using the indirect method to report cash flows from operating activities