3. Using the following information, prepare a statement of cash flows for the year ended December 31, 2018, using the indirect method. (30%) Ciomara Corporation Balance Sheet December 31, 2018 Assets Cash Accounts receivable Land Equipment Accumulated depreciation 2018 $ 11,000 120,000 75,000 70,000 (13,500) 2017 $ 46,500 115,500 60,000 90,000 _(19,500) Total assets $262.500 $292.500 Liabilities and Equity Accounts payable $ 6,000 Long-term debt 20,000 Common stock 197,000 Treasury Stock (7,000) Retained earnings 46,500 Total liabilities & equity S262.500 Ciomara Corporation Statement of Comprehensive Income For the year ended December 31, 2018 $ 9,000 28,500 174,500 (2,000) 82,500 S292.500 Sales Cost of goods sold Gross margin Depreciation expense Selling and administration expense Operating income Gain on sale of equipment Net loss Other comprehensive income Comprehensive loss $ 320,000 (279,000) $ 41,000 (9,000) (65,000) $ (33,000) 3,000 $ (30,000) $ (30.000) Other data: Equipment with a cost of $20,000 was sold in 2018 Dividends were declared and paid in 2018 Stock was repurchased during 2018, but no treasury stock was sold