Flounder Corporation has contracted with you to prepare a statement of cash flows. The controller has provided the following information. December 31 2017 2016 Buildings $ 0 $28,250 Equipment 42,500 17,500 Patents 4,800 6,000 Investments 0 2,750 Inventory 10,250 7,500 Accounts receivable 12,000 8,500 Cash 35,075 12,500 $ 104,625 $83,000 Share capitalordinary $ 42,500 $32,500 Retained earnings 20,500 5,500 Allowance for doubtful accounts 2,750 4,000 Accumulated depreciation on equipment 1,750 4,000 Accumulated depreciation on buildings 0 5,500 Accounts payable 4,875 2,750 Dividends payable 0 4,750 Long-term notes payable 29,500 20,250 Notes payable, short-term (non-trade) 2,750 3,750 $ 104,625 $83,000 Additional data related to 2017 are as follows. 1. Equipment that had cost $10,500 and was 40% depreciated at time of disposal was sold for $2,250. 2. $10,000 of the long-term notes payable was paid by issuing ordinary shares. 3. Cash dividends paid were $4,750. 4. On January 1, 2017, the building was completely destroyed by a flood. Insurance proceeds on the building were $30,500. 5. Equity investments (non-trading) were sold at $1,450 above their cost. 6. Cash was paid for the acquisition of equipment. 7. A long-term note for $19,250 was issued for the acquisition of equipment. 8. Interest of $1,750 and income taxes of $6,500 were paid in cash. Prepare a statement of cash flows using the indirect method.

IFRS 23-7 Flounder Corporation has contracted with you to prepare a statement of cash flows. The controller has provided the following information. Buildings Equipment Patents Investments Inventory Accounts receivable Cash December 31 2017 2016 $28,250 42,500 17,500 4,800 6,000 -0 2,750 10,250 7,500 12,000 8,500 35,075 12,500 $ 104,625 $83,000 $ 42,500 $32,500 20,500 5,500 2,750 4,000 1,750 4,000 5,500 4,875 2,750 -0 4,750 29,500 20,250 2,750 3,750 $ 104,625 $83,000 Share capital-ordinary Retained earnings Allowance for doubtful accounts Accumulated depreciation on equipment Accumulated depreciation on buildings Accounts payable Dividends payable Long-term notes payable Notes payable, short-term (non-trade) -0- Additional data related to 2017 are as follows. 1. Equipment that had cost $10,500 and was 40% depreciated at time of disposal was sold for $2,250. 2. $10,000 of the long-term notes payable was paid by issuing ordinary shares. 3. Cash dividends paid were $4,750. 4. On January 1, 2017, the building was completely destroyed by a flood. Insurance proceeds on the building were $30,500. 5. Equity investments (non-trading) were sold at $1,450 above their cost. 6. Cash was paid for the acquisition of equipment. 7. A long-term note for $19,250 was issued for the acquisition of equipment. 8. Interest of $1,750 and income taxes of $6,500 were paid in cash. Prepare a statement of cash flows using the indirect method. (If an amount reduces the account balance then enter with negative sign.) Prepare a statement of cash flows using the indirect method. (If an amount reduces the a FLOUNDER CORPORATION Statement of Cash Flows Adjustments to reconcile net income to Supplemental disclosures of cash flow information