Fill in the following blank Statement if Cash Flows-Direct Method using the Statement of Financial Position and Income Statement plus the additional information given.

The income statement and unclassified statement of financial position for Oriole, Inc. follow: ORIOLE, INC. Statement of Financial Position December 31 Assets Cash Held for trading investments Accounts receivable Inventory Prepaid expenses Property, plant, and equipment Accumulated depreciation Total assets Liabilities and Shareholders' Equity Accounts payable Accrued liabilities Bank loan payable Common shares Retained earnings 2018 2017 $98,200 $47,000 125,000 114,500 71,000 41,500 123,500 93,000 18,600 26,400 305,500 280,000 (45,000) (52,500) $696,800 $549,900 $95,500 $74,800 11,200 7,500 89,100 194,600 260,000 150,000 241,000 123,000 $696,800 $549,900 Total liabilities and shareholders' equity ORIOLE, INC. Income Statement Year Ended December 31, 2018 Sales Cost of goods sold Gross profit Operating expenses Income from operations Other revenues and expenses $578,900 186,300 392,600 116,420 276,180 Unrealized gain on held for trading investments $10,500 Interest expense Income before income tax Income tax expense Net income (4,730) 5,770 281,950 44,000 $237,950 Additional information: Operating expenses Income from operations Other revenues and expenses Unrealized gain on held for trading investments Interest expense Income before income tax Income tax expense Net income 116,420 276,180 $10,500 (4,730)5,770 281,950 44,000 $237,950 Additional information: 1. Prepaid expenses and accrued liabilities relate to operating expenses. 2. An unrealized gain on held for trading investments of $10.500 was recorded 3. New equipment costing $84,000 was purchased for $23,000 cash and a $61,000 long-term bank loan payable 4. Old equipment having an original cost of $58,500 was sold for $1,600. 5. Accounts payable relate to merchandise creditors. 6. Some of the bank loan was repaid during the year. 7. A dividend was paid during the year. 8. Operating expenses include $47,000 of depreciation expense and a $2,400 loss on disposal of equipment. 25 Prepare the statement of cash flows, using the direct method. (Show amounts that decrease cash fhow with either a-sign eg-15,000 or in parenthesis eg (15,000 ORIOLE, INC Statement of Cash Method Cash Payments Note X to the Statement of Cash Flows: During the year, the company purchased equipment costing by paying $23,000 cash and issuing a $61,000 bank loan payable