1. The following selected data for Maroon Corporation for the year ended December 31, 2018 is available to you for preparing the cash flow statement: Dec. 31, 2018 Dec. 31, 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 $10,000 Issuance of long-term note payable to borrow cash $7,000 Issuance of common shares for cash $19,000 Proceeds from sale of building $74,000 Repurchase of own shares $5,000 Issuance of 4,000 common shares for equipment $8,000 Loss on sale of building $2,000 Purchase of equipment $98,000 Payment of cash dividends $18,000 Net income $26,000 Purchase of long-term investment $8,000 Issuance of long-term note payable to purchase patent $37,000 Issuance of common shares for long-term asset worth $13,000 Prepare the operating section of Maroon Corporations cash flow statement for the year ended December 31, 2018 using the indirect method.

1. The following selected data for Maroon Corporation for the year ended December 31, 2018 is available to you for preparing the cash flow statement: Dec. 31, 2018 Dec. 31, 2017 Current Assets Cash and cash equivalents Accounts receivable Inventories Prepaid Expenses Current Liabilities Accounts payable Accrued liabilities Income and other taxes payable $19,000 22,000 34,000 1,000 $3,000 23,000 31,000 3,000 28,000 7,000 10,000 19,000 9,000 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)