accounting

: E5.17 (LO1.2.3) (Preparation of a Statement of Cash Flows and a Statement of Financial Position) Chekov Corporation's statement of financial position at the end of 2018 included the following items. Land $ 30,000 Bonds payable $100,000 Buildings 120,000 Current liabilities 150,000 Equipment 90,000 Share capital-ordinary 180,000 Accum depr. --buildings (30,000) Retained earnings 44,000 Accum. depr.-equipment (11,000) Total $474,000 Patents 40,000 Current assets 235,000 Total $474,000 The following information is available for 2019. 1. Net income was $55,000 2. Equipment (cost $20,000 and accumulated depreciation $8.000) was sold for $9.000 3. Depreciation expense was $4,000 on the building and $9,000 on equipment 4. Patent amortization was $2.500. 5. Current as sets other than cash increased by $25.000. Current liabilities increased by $13,000. 6. An addition to the building was completed at a cost of $27.000 7. A long-term investment in debt securities was purchased for $16.000 8. Bonds payable of $50.000 were issued 9. Cash dividends of $25 000 were declared and paid. 10. Treasury shares were purchased at a cost of $11,000 Instructions (Show only totals for current assets and current liabilities.) a. Prepare a statement of cash flows for 2019 b. Prepare a statement of financial position at December 31, 2019