Here is the financial statement data for this question so you dont have to enter it. Arenal Corporation Comparative Statements of Financial Position As at December 31 2022 2021 Assets: Cash $43,000 $24,000 Accounts receivable, net 35,000 38,000 Inventory 114,000 82,000 Land 120,000 190,000 Building 200,000 200,000 Accumulated depreciation - building (50,000) (40,000) Equipment 1,030,000 600,000 Accumulated depreciation - equipment (118,000) (94,000) Total assets $1,374,000 $1,000,000 Liabilities: Accounts payable (merchandise purchases only) $115,000 $100,000 Salaries payable 20,000 - 4% Bonds payable (par value $300,000) 300,000 - Equity: Common shares 750,000 750,000 Retained earnings 189,000 150,000 Total Liabilities and Equity $1,374,000 $1,000,000 Arenal Corporation Income Statement For the Year Ended December 31, 2022 Sales $1,075,000 Cost of goods sold 640,000 Depreciation expense 94,000 Salaries expense 140,000 Rent expense 72,000 Other operating expenses, including bond interest 14,000 Gain on sale of Land (10,000) Loss on sale of equipment 20,000 Income taxes expense 21,000 Net income $84,000 The bonds were issued at par on July 1, 2022. Cash dividends were paid. Land was sold for $80,000. No other land was purchased. Old equipment was sold for $70,000. This equipment had cost $150,000 and had accumulated depreciation of $60,000 to date of sale. New equipment was purchased to replace it. Required: Prepare the Statement of Cash Flows using the direct method below: Arenal Corporation Statement of Cash Flow For the Year Ended December 31, 2022