IFRS 23-7

Bridgeport 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		$29,850
Equipment			50,500		25,500
Patents			5,440		6,800
Investments			0		3,550
Inventory			11,050		9,100
Accounts receivable			12,800		10,100
Cash			32,435		14,100
		$	112,225		$99,000
Share capitalordinary		$	44,100		$34,100
Retained earnings			21,300		7,100
Allowance for doubtful accounts			3,550		5,600
Accumulated depreciation on equipment			2,550		5,600
Accumulated depreciation on buildings			0		7,100
Accounts payable			6,075		3,550
Dividends payable			0		5,550
Long-term notes payable			31,100		25,850
Notes payable, short-term (non-trade)			3,550		4,550
		$	112,225		$99,000

Additional data related to 2017 are as follows.

1.		Equipment that had cost $12,100 and was 40% depreciated at time of disposal was sold for $3,050.
2.		$10,000 of the long-term notes payable was paid by issuing ordinary shares.
3.		Cash dividends paid were $5,550.
4.		On January 1, 2017, the building was completely destroyed by a flood. Insurance proceeds on the building were $32,100.
5.		Equity investments (non-trading) were sold at $2,250 above their cost.
6.		Cash was paid for the acquisition of equipment.
7.		A long-term note for $15,250 was issued for the acquisition of equipment.
8.		Interest of $2,550 and income taxes of $8,100 were paid in cash.

Prepare a statement of cash flows using the indirect method