Gems Co. uses the indirect method to prepare its statement of cash flows. The following comparative statement of financial position for 2021 and 2022 are presented: At December 31 2022 2021 Property, Plant and Equipment (PPE) $1 260 000 $1 050 000 Accumulated depreciation (450 000) (375 000) Patent 153 000 174 000 Prepaid expenses 18 000 27 000 Inventory 150 000 180 000 Accounts receivable 159 000 117 000 Cash 297 000 153 000 $1 587 000 $1 326 000 Accounts payable $ 153 000 $ 168 000 Accrued liabilities 60 000 42 000 Mortgage payable ---- 450 000 Share capital-Preference 645 000 ----- Share capital-Ordinary 600 000 600 000 Retained earnings 129 000 66 000 $1 587 000 $1 326 000 Additional Information: 1. The Accumulated Depreciation account has been credited only for the depreciation expense for the period. 2. The Retained Earnings account has been charged for dividends of $138 000 and credited for the net income for the year. The statement of profit or loss for 2022 was as follows: Sales $1 980 000 Cost of sales 1 089 000 Gross profit 891 000 Operating expenses 690 000 Net income $ 201 000 Create the statement of cash flows (direct method) for Gems Co. for the year ended December 31, 2022