QUESTION $2$ Note: Answer this question individually in the Assignment $2$ Answer Booklet. The following information has been extracted from the financial records of Lake Ltd: Additional information: $1.$ Lake Ltd uses the direct method to report cash flows from operating activities $($CFOA$).2.$ There were no new long$-$term borrowings during the year. $3.$ An item of equipment was sold for $\backslash (\backslash$$ $2,000\backslash )$ cash. $4.$ An item of equipment was purchased for $\backslash (\backslash$$ $826\backslash )$ with an issue of shares. $5.$ The GST rate is $\backslash (15\backslash \%\backslash ).$ Required: $($i$)$ Reconstruct all of the general ledger accounts provided in the answer booklet. $($ii$)$ Prepare a Statement of Cash Flows for Lake Ltd$,$ in accordance with NZ IAS $7$ Statement of Cash Flows and NZ IFRS $18$ Presentation and Disclosure in Financial Statements, for the year ended $31$ March $2025.($iii$)$ Prepare a draft Statement of Profit or Loss, in accordance with NZ IFRS $18$ Presentation and Disclosure in Financial Statements, for the year ended $31$ March $2025.$ If any of the five categories are not applicable to this question, state the name of the non$-$applicable category and place a dash in the dollar column. $($iv$)$ Prepare the CFOA section of the SCF$,$ but this time assume Lake Ltd uses the indirect method.