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The comparative, unclassified statement of financial position for Sunland Ltd. shows the following balances at December 31: Cash $0 Sunland Ltd. Statement of Financial Position December 31 Assets 2018 2017 $ 43,000 Accounts receivable 22,000 37,000 Inventory 35,000 57,000 Land 96,000 105,000 Buildings 523,000 259,000 Accumulated depreciation-buildings (72,000) (104,000) Equipment 75,000 38,000 Accumulated depreciation-equipment (12,000) (6,000) Total assets $710,000 $386,000 Liabilities and Shareholders' Equity Bank overdraft $0 $11,000 Accounts payable $ 42,000 $ 21,000 Income tax payable 3,000 2,000 Interest payable 4,000 5,000 Dividends payable 3,000 1,000 Bank loan payable-current portion 22,000 24,000 Bank loan payable-non-current portion 384,000 207,000 Common shares 205,000 90,000 Retained earnings 47,000 25,000 Total liabilities and shareholders' equity $710,000 $386,000 Additional information regarding 2018: 1. Net income was $59,000. 2. A gain of $9,000 was recorded on the disposal of a small parcel of land. No land was purchased during the year. 3. A gain on the disposal of $42,000 was recorded when an old building was sold for $55,000 cash. A new building was purchased for $365,000 and depreciation expense on buildings for the year was $56,000. 4. Equipment costing $63,000 was purchased while a loss of $5,000 was recorded on equipment that was sold for $5,000. The equipment that was sold late in the year had accumulated depreciation of $16,000. 5. The company took out $207,000 of new bank loans during the year. 6. Dividends were declared and paid and no common shares were bought back by the company. Prepare the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) SUNLAND LTD. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to LA LA S