Prepare a cash flow statement for the year using the direct method, pls see the file attachment below. you open word file and you can see the question.

Problem 17-8A Carla Vista Ltd., a private company reporting under ASPE, reported the following for the years ended May 31, 2017 and 2016. CARLA VISTA LTD. Balance Sheet May 31 Assets 2017 Cash Accounts receivable Inventory 2016 $29,175 $46,750 88,650 78,750 184,000 159,750 5,900 7,400 Prepaid expenses Land 135,750 79,500 Equipment 319,000 199,000 Accumulated depreciation (77,200) (39,750) Total assets $685,275 $531,400 Liabilities and Shareholders' Equity Accounts payable $42,850 $39,750 7,400 5,900 Dividends payable Income taxes payable 3,100 6,900 Mortgage payable 131,000 79,750 Common shares 218,500 165,750 Retained earnings 282,425 233,350 Total liabilities and shareholders' equity $685,275 $531,400 Additional Information: 1. Profit for 2017 was $111,825. 2. Common shares were issued for $52,750. 3. Land with a cost of $52,750 was sold at a loss of $19,900. 4. Purchased land with a cost of $109,000 with a $57,750 down payment and financed the remainder with a mortgage note payable. 5. No equipment was sold during 2017. 6. Net sales for the year were $674,800. 7. Cost of goods sold for the year was $401,000. 8. Operating expenses, including depreciation expense, were $98,900. 9. Interest expense was $5,900. 10. Income tax expense was $37,275. 11. Accounts payable is used for merchandise purchases. Prepare a cash flow statement for the year using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) CARLA VISTA LTD. Cash Flow Statement - Direct Method $ $ $ $ $ Note X: Land with a cost of $ was purchased by paying $ cash and issuing a mortgage note payable for $