Exercise 13-12 (Indirect Method) The comparative unclassified statement of financial position for Puffy Ltd. follows: PUFFY LTD Statement of Financial Position December 31 2015 Assets Cash Accounts receivable Merchandise inventory Land Equipment Accumulated depreciation Total assets 2014 $50,200 $24,970 79,200 182,560 186,730 71,030100,980 265,420 202,690 (65,450) (30,350 $588,310 $564,220 84,550 Liabilities and Shareholders' Equity Accounts payable Bank loan payable Common shares Retained earning:s Total liabilities and shareholders' equity $39,430 $46,530 145,270 210,610 199,550 174,920 204,060132,160 $588,310 $564,220