CONCORD CORPORATION Statement of Financial Position December 31 \begin{tabular}{|c|c|c|} \hline \multirow[b]{2}{*}{ Assets } & \multicolumn{2}{|c|}{ December 31} \\ \hline & 2023 & 2022 \\ \hline Cash & $52,500 & $14,400 \\ \hline Accounts receivable & 89,400 & 87,600 \\ \hline Equipment & 26,500 & 21,100 \\ \hline Less: Accumulated depreciation & (9,900) & (11,800) \\ \hline Total & $158,500 & $111,300 \\ \hline \multicolumn{3}{|l|}{ Liabilities and Shareholders' Equity } \\ \hline Accounts payable & $19,600 & $15,500 \\ \hline Common shares & 100,000 & 79,600 \\ \hline Retained earnings & 38,900 & 16,200 \\ \hline Total & $158,500 & $111,300 \\ \hline \end{tabular} Question 2 of 25 19 CONCORD CORPORATION Statement of Cash Flows Adjustments to reconcile net income to net cash provided by operating activities: $ Net income of $36,100 was reported and dividends of $13,400 were declared and paid in 2023. New equipment was purchased, and equipment with a carrying value of $4,600 (cost of $11,800 and accumulated depreciation of $7,200 ) was sold for $8,200. Prepare a statement of cash flows using the indirect method for cash flows from operating activities. Assume that Concord prepares financial statements in accordance with ASPE. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000). Question 2 of 25 19