1. The following selected data for Maroon Corporation for the year ended December is available to you for preparing the cash flow statement: Dec. 31, Dec. 31, 2018 2017 Current Assets Cash and cash equivalents $19.000 $3,000 Accounts receivable 22,000 23,000 Inventories 34.000 31,000 Prepaid Expenses 1,000 3,000 Current Liabilities Accounts payable 28,000 19,000 Accrued liabilities 7,000 9,000 Income and other taxes payable 10,000 10,000 Transaction data for 2018: Depreciation expense Issuance of long-term note payable to borrow cash Issuance of common shares for cash Proceeds from sale of building Repurchase of own shares Issuance of 4,000 common shares for equipment Loss on sale of building Purchase of equipment Payment of cash dividends Net income Purchase of long-term investment Issuance of long-term note payable to purchase patent Issuance of common shares for long-term asset worth $10,000 $7,000 $19,000 $74,000 $5,000 $8,000 $2,000 $98,000 $18,000 $26,000 $8,000 $37,000 $13,000 Prepare the operating section of Maroon Corporation's cash flow statement for the year ended December 31, 2018 using the indirect method. (8 marks). 2. Frosty Bar Corporation uses the perpetual inventory system. Beginning Inventory was bu 2. Frosty Bar Corn units at $90 each. Data for the month ended December 31, 2019, are as follows: Date Description Units Unit Cost Dec 4 Purchase 180 $92 Dec 10 Sale (160) Dec 18 Purchase $94 Dec 23 Sale (100) Dec 28 Purchase 40 $95 70 Calculate the ending inventory and Cost of goods sold balances on December 31, 2014 using First in First Out (FIFO) method (4 marks) Purchases Cost Units Balance Cost of Goods Sold Cost Total Units Total Units Cost