4. Sargent Corporation. had the statement of financial position shown below at December 31, 2018. Sargent Corporation Statement of Financial Position December 31, 2018 Particulars Amount Particulars Amount Plant assets (net) 810000 Share Capital-Ordinary 1000000 Land 400000 Retained Earning Investments 320000 Long term notes 410000 Account Receivable 212000 Accounts Payable 300000 Cash 200000 Total 1942000 Total 1942000 During 2019, the following occurred. 1. Sargent Corporation sold part of its investment portfolio for $150000. This transaction resulted in a gain of $34000 for the firm. The company classifies its investments as non-trading equity. 2. A tract of land was purchased for $180000 cash. 3. Long-term notes payable in the amount of $160000 were retired before maturity by paying $160000 cash. 4. An additional $200000 in preference shares were issued at par. 5. Dividends totalling $82000 were declared and paid to shareholders. 6. Net income for 2019 was $320000 after allowing for depreciation of $110000. 7. Land was purchased through the issuance of $300000 in bonds. 8. At December 31, 2019, Cash was $320000, Accounts Receivable was $416000, and Accounts Payable remained at $300000. Instructions a. Prepare a statement of cash flows for 2019. b. Prepare a statement of financial position as it would appear at December 31, 2019. c. How might the statement of cash flows help the user of the financial statements? Compute free cash flow and two cash flow ratios