Question $3[20$ points$]$Coutland Corp begarn operations on January $1,2$X$120$ Its post ckasing trial baliance at Decembe $31,2020$ and $2021,$ is shown below along witth some othor informalonAcCOurtCeshAccounts recetvabieMorcharndise iventoryPlant assetsAcCmulated depreciaionAccounts payabieSalaries paayabieLong tern nokes payableCommon stockFataned earningsDecomber $3120212020$$$158000$ S$164,000303,000323000110000100000754,000680,000420,000413,000203\mathrm{.}000199\mathrm{.}00014\mathrm{.}00017,000$FRevenusSales$1.$ Assune all accounts have nomal balancesFor Year Endet Decebr $31221$Experses and otherCost of goods sokdOther expersesDeprociabon expenseGain on sale of plat assetsTatal expenses and otherNet lossOther information regardng Courtland Corp and its actviies tunng $20212$ Cash dvidends were declared and paid during the yearXCourtland CapOperating Acteties Section of Staternent of Cash Flons$3$ Plant assets worth S$178,000$ were purchased during thie year by paying cash of $$52,000$ and isung a long tern note payblo for the balance$4$ Plant assets were sold durng the year.Fo lthe Moni Ended December $31,2021$S$857000412000$Prepare the operating activities section of the statornont of cash flows tor $2021$ usng the indirect rmethod.X$4$Adjust to reconcila net income to nat cash tlow from aper act$12,000(23,000)$S$12570001258,000$$$1,000269000188,000200,000200000219000250,0004$Net income