Concord Co Statement of Financial Position December 31, 2020 Assets Current Assets 1182300.00 FV-OCI Investments 20900.00 Property, Plant, And Equipment Land $ 30300.00 Buildings $ 1341900.00 Less: Accumulated Depreciation - Buildings X -144000.00 x -148200.00 Equipment 304200.00 x Less. Accumulated Depreciation - Equipment x -12500.00 13350.00 Total Property, Plant, And Equipment X 38180.00 Intangible Assets x FV-OCI Investments 20900.00 [Total Assets 2756230.00 Liabilities and Shareholders' Equity Current Liabilities $ 1351100.00 Long-Term Liabilities Bonds Payable] 1218000.00 Total Liabilities x 183000.00 (Shareholders' Equity Common Shares X th Retained Earnings 4130.00 Total Shareholders' Equity X [Total Liabilities And Shareholders' Equity X 2756230.00Concord Corp.'s statement of financial position at the end of 2019 Included the following items: Current assets $1,305,000 Current liabilities 30,300 $1,337,100 Land Bonds payable 1,141,000 Buildings 1,310,000 Common shares 183,000 Equipment 325,000 Retained earnings 194,000 Accumulated depreciation-buildings (144,000) Accumulated depreciation-equipment (12,500) Intangible assets-patents 41,300 Total $2,855,100 Total $2,855,100 The following information is available for the 2020 fiscal year: 1. Net income was $397,000. 2. Equipment (cost of $20,800 and accumulated depreciation of $8,170) was sold for $11,100. 3. Depreciation expense was $4,200 on the building and $9,020 on equipment. 4. Amortization expense on a patent was $3,120. 5. Current assets other than cash increased by $25,000. Current liabilities increased by $14,000. 6. An addition to a building was completed at a cost of $31,900. 7. An FV-OCI investment in shares was purchased for $20,900 on the last day of the year. This was the first such investment made by Concord in its history. 8. Bonds payable of $77,000 were issued at par. 9. Cash dividends of $183,000 were declared and paid. Dividends paid are treated as financing activities. Concord prepares financial statements in accordance with IFRS.Your answer is partially correct. Try again. Prepare a statement of cash flows for the year ended December 31, 2020, 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).) Concord Corporation Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income / (Loss) $ 397000 Adjustments to reconcile net income to net cash provided by operating activities: Loss on Disposal of Equipment $ 1530 Depreciation Expense 13220 Patent Amortization Expense 13120 Increase in Current Assets (Other than Cash) -25000 Increase in Current Liabilities 14000 16870 Net Cash Provided by Operating Activities 1403870 Cash Flows from Investing Activities Proceeds from Disposal of Equipment 11100 Addition to Building 1-31900 Purchase of FV- OCI Investments -20900 Net Cash Used by Investing Activities 1-41700 [Cash Flows from Financing Activities IIssuance of Bonds 177000 Payment of Dividends 183000 Net Cash Used by Financing Activities -106000 X Net Increase in Cash -41700