Do not give answer in image Indigo Limited had the following financial statements:Indigo LimitedIncome StatementFor the Year Ended December 31, 2023Net sales$118.80070.200Cost of goods soldGross profitOperating expensesIncome from operationsInterest expenseIncome before income taxesIncome taxesNet incomeCash48,60019.84028,7602.520Accounts payableSalaries and wages payableIncome tax payableBank loans26,2407.900$18.340Indigo LimitedComparative Statement of Financial PositionAs at December 31Accounts receivableInventoryPrepaid insuranceEquipmentAccumulated depreciation-equipmentTotal assetsCommon sharesRetained earningsTotal liabilities and shareholders equity2023$10,8008,46011,9001,8001,44018,340 24,100(11,700) (12,780)$39.600$34.540$3,6001,4402,160010,8002022$7,0206,3008,46021,600$39,600$4,8601,4407206,30010,80010,420$34,540Additional information:• Equipment that cost $5,760 was sold for the carrying amount of $2,700.• Dividends declared and paid were $7,160.Prepare the operating activities section of a statement of cash flows using the direct method. (Show amounts that decrease cash flowwith either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).)Operating ActivitiesCash Received from CustomersCash Paid to SuppliersCash Paid for Operating Expenses ✓Cash Paid for InterestIndigo LimitedPartial Statement of Cash FlowsFor the Year Ended December 31, 2023Cash Paid for Income TaxesCash provided by Operating Activities ✓749001948025206460V$11664010336013280

Operating activities are those activities which are done by a business entity in its normal course…

Prepare the operating activities section of a statement of cash flows 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).) Operating Activities Cash Received from Customers Cash Paid to Suppliers Cash Paid for Operating Expenses ✓ Cash Paid for Interest Indigo Limited Partial Statement of Cash Flows For the Year Ended December 31, 2023 Cash Paid for Income Taxes Cash provided by Operating Activities S 74900 19480 2520 6460 1A S 10 116640 103360 13280