Please answer using above format. Thank you!

Sunland Ltd. Comparative Statement of Financial Position December 31 Assets 2021 2020 Cash $ 91,840 $ 56,000 Accounts receivable 152,320 114,240 Inventory 89,600 134,400 Prepaid insurance 11,200 8,960 Equipment 344,960 291,200 Accumulated depreciation-equipment (78,400) (56,000) Patents 89,600 112,000 Total assets $ 701,120 $ 660,800 Liabilities and Shareholders' Equity Accounts payable $ 103,040 $ 89,600 Interest payable 8.960 13,440 Salaries and wages payable 17,920 8,960 Income taxes payable 17,920 22,400 Long-term note payable 134,400 154,560 Common shares 291,200 291.200 Retained earnings 127,680 80,640 Total liabilities and shareholders' equity $ 701,120 $ 660,800 Additional information: 1. Net income for the fiscal year was $60,480. 2. Equipment that cost $44.800 and was 70% depreciated was sold during 2021, for a gain of $4.480. 3. No patents were purchased or sold during the fiscal year. Prepare the statement of cash flows using the indirect format. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Sunland Ltd. Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities Net Income /(Loss) $ Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Expense $ Increase in Accounts Receivable V Decrease in Inventory Decrease in Accounts Payable Increase in Salaries and Wages Payable Gain on Disposal of Equipment Increase in Prepaid Insurance v Decrease in Income Taxes Payable Net Cash Provided by Operating Activities $ Cash Flows from Investing Activities Purchase Equipment Proceeds from Disposal of Equipment Net Cash Used by Investing Activities Cash Flows from Financing Activities Cash Dividends V Repayments Notes Payable Net Cash Used by Financing Activities V Net Increase in Cash Cash at Beginning of Year Cash at End of Year $