A comparative statement of financial position for Hartman Corporation is presented below: HARTMAN CORPORATION Comparative statement of financial position 2011 2010 Land Equipment Accumulated depreciation Prepaid insurance Accounts receivable (net) Cash Total Assets Assets 18,000 40,000 70,000 60,000 (20,000) (13,000) 25,000 17,000 70,000 60,000 46,000 31,000 $209,000 $195,000 Share capital-ordinary Retained earnings Bonds payable Accounts payable Total equity and liabilities Additional information: 1. Net loss for 2011 is $10,000. Equity and Liabilities $140,000 $115,000 31,000 55,000 27,000 19,000 11,000 $209,000 6,000 $195,000 2. Cash dividends were declared and paid in 2011. 3. Land was sold for cash at a loss of $4,000. This was the only land transaction during the year. 4. Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash. 5. $22,000 of bonds were retired during the year at carrying (book) value. 6. Equipment was acquired for ordinary shares. The fair value of the shares at the time of the exchange was $25,000. Instructions Prepare a statement of cash flows for the year ended 2011, using the indirect method. Ans