Prepare the Statement of Cashflows using the indirect Method

ARIYA COMPANY Comparative Statement of Financial Position Dec. 31, 2021 Dec. 31, 2020 Assets Cash 63,000 48,000 Accounts receivable 72,000 59,000 Inventories 130,000 98,000 Property, plant, and equipment 290,000 240,000 Accumulated depreciation (70,000) (79,500) 83,000 Land 99,000 558,500 474,000 Liabilities and shareholders' equity Accounts payable 51,000 48,000 Income taxes payable 12,000 16,000 Bonds payable 124,200 100,000 Common shares 220,000 190,000 Retained earnings 151,300 120,000 558,500 474,000 Statement of Income For the year ended December 31, 2021 Sales revenue 430,000 Gain on sale of equipment 8,500 $438,500 Less: 200,000 Cost of goods sold Operating expenses (excluding depreciation) 66,000 48,000 Depreciation expense Income taxes Net income 40,000 354,000 84,500 Additional information 1-Some of the land was sold at book value (or carrying value). As a result, there was no gain or loss on this transaction 2-Equipment costing $45,000 was sold for $15,000, which was $8,500 more than its book value at the time of disposal