frow, Bright Star Sdn Bhd. has the following information for 2012: Statement of comprehensive income for the year ended June 30, 2012 550,000 320.000 230,000 Sales revenue Less: Cost of goods sold Gross margin Less: Operating expenses Salaries expense Depreciation expense Insurance expense 165,000 21,000 19.000 205,000 25,000 3.000 28.000 Gain on sale of non-current assets 2012 (5) 2011 (5) 20,000 - 23,000 10,000 - 8,000 Statement of financial position at June 30 2012 (5) 2011 (5) Cash - 28,000 33,000 Accounts payable n Accounts receivable 26,000 -15,000 Salaries payable sed Prepaid insurance 30,000 -42,000 ,000 84,000 90,000 Long-term liabilities Furniture, net 90,000 74,500 Share capital Retained earnings 174,000 164,500 40,000 4,000 100,000 174,000 50,000 3,500 80,000 164,500 During 2012, the company: 1. Sold furniture with a book value of $15,000 for cash. New furniture amounting to $51,500 was purchased for cash. 2. Repaid long-term liabilities with a principal value of $22,000. Took new long-term loans for cash amounting to $12,000. 3. Issued shares for cash $500. 4. Paid cash dividends $8,000. Required: 2. Prepare a statement of cash flows for the year ended June 30, 2012 using the indirect method. b. Could there be circumstances under which a company could have net loss on the income statement and still have an increase in the cash balance