G H 2.018.00 BLACK LTD. Statement of Financial Position December 31 2019 Assets Cash $ 27,000 Held for trading investments 10,000 Accounts receivable 19,000 Inventory 18,500 Prepaid expenses 3,000 Equipment 45,000 Accumulated depreciation - equipment (15,500) Total assets $ 107,000 $ 15,000 8,000 15,500 10,000 5,000 22,000 (11,000) $ 64,500 Liabilities and Shareholders' Equity Accounts payable Bank loan payable Common shares Retained earnings Total liabilities and shareholders' equity $ 23,500 15,000 50,000 18,500 $ 107,000 $ 7,500 26,000 20,000 11,000 $ 64,500 Additional information: 1. Net income was $25,000 in 2019. 2. An unrealized gain on held for trading investments of $2,000 was recorded. 3. Depreciation expense was $4,500 purchased, no equipment was sold. 76 77 Additional information: 78 1. Net income was $25,000 in 2019. 79 2. An unrealized gain on held for trading investments of $2,000 was recorded. 80 3. Depreciation expense was $4,500 81 4. A new manufacturing equipment was purchased, no equipment was sold. 82 5. The company paid off some of its bank loan. 83 6. In 2019, dividends were declared and paid. 84 85 Instruction 86 Prepare a statement of cash flows using the indirect method for 2019. 87 88 89 90 91 92 93 94 95 KI Sheet1 New READY