Case 2: The Statement of Financial Position and the Statement of Cash Flows Presented below is the statement of financial position at the end of 2014 for ABDC Corporation uity and liabilities Assets 30,000 Bonds payable 00,000 Buildings 120,000 Current liabilities 150,000 Share-capital-ordi 90,000 180,000 quipment Acc. dep. for buildin Acc, dep for equipment 30,000 Retained earnin 44,000 11,000 Total S 474,000 Patents 40,000 235,000 Current assets S474,000 Total The following information is available for 2015: . Net income was $55,000 2. Equipment was sold for S9,000 (the cost of this equipment was $20,000 and its Acc. dep was $8,000) 3. Depreciation expense was $4,000 on the building and $9,000 on the equipment 4. Patent amortization was S2,500 5. Current assets rather than cash increased by $25,000, while current liabilities increased by $13,000 6. An addition to the building was completed at a cost of $27,000 7. A long-term investmen 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 share were purchased at a cost of S,000 Instructions 1- Prepare a classified statement of cash flows for 2015 2- Prepare a classified statement of financial posiion at December 31, 2015