Kaoru... If you would like to use a spreadsheet for this question, please click here to have a spreadsheet open in a new tab. Once you are finished, you will need to click the "Click here to save your work" button. This will copy a link to your clipboard, which you can then paste into your answer field below, allowing your instructors to access your spreadsheet. The comparative statement of financial position for Chen Inc, appear below: December 31, 2021 December 31, 2020 Assets Cash Accounts receivable Inventory Land Equipment, net Total assets $ 18,000 29,000 15,000 20,000 24,000 106,000 $ 22,000 25,000 17,000 0 16,000 80,000 11,000 26,000 25,000 11,000 Liabilities and Shareholders' Equity Accounts payables Long-term notes payable Common shares Retained earnings Total liabilities and shareholders' equity 15,000 50,000 106,000 12,000 32,000 80,000 Additional information: 1. Net earnings for the year ended December 31, 2021 were $20,000. 2. The carrying amount of the equipment at the end of 2021 and 2020 was determined as follows: Equipment Less: accumulated depreciation Net carrying amount December 31, 2021 $ 30,000 (6,000) 24,000 December 31, 2020 $ 26,000 (10,000) 16,000 3. Equipment with a cost of $16,000 and accumulated depreciation of $8,000 was sold for cash proceeds of $9,000 during 2021 4. Equipment costing $15,000 was purchased during the year by issuing a note payable. All other equipment purchases were for cash. There were no other non-cash transactions during the year. Required: Prepare a statement of cash flows for the year ended December 31, 2021 using the indirect method. Space is provided for your response on the next page of this exam