Information from the statement of financial position and statement of income are given below for Blue Road Inc., a company following IFRS, for the year ended December 31. Blue Road has adopted the policy of classifying interest paid as operating activities and dividends paid as financing activities. Comparative Statement of Financial Position, at December 31 2017 2016 Cash Accounts receivable Inventory Investments in land Property, plant, and equipment Accumulated depreciation $71,300 $47,850 37,500 127,800 107,650 87,300110,000 291,000 213,000 (49,000) (40,000) $620,000 $476,000 91,600 Accounts payable Accrued liabilities Notes payable Common shares Retained earnings $53,700 $48,780 19,430 75,000 230,000 203,000 185,800 129,790 $620,000 $476,000 12,500 138,000 Statement of Income, year ended December 31, 2017 Revenues Sales Gain on sale of investment in land Gain on sale of equipment $289,930 5,000 8,890 303,820 $96,660 58,700 14,740 38,100 Cost of goods sold Depreciation expense Operating expenses Income tax expense Interest expense 2,840 211,040 $92,780 Net income Additional information: 1. Investments in land were sold at a gain during 2017 2. Equipment costing $56,100 was sold for $15,290, resulting in a gain. 3. Common shares were issued in exchange for some equipment during the year. No other shares were issued. 4. The remaining purchases of equipment were paid for in cash. Prepare a statement of cash flows for the year ended December 31, 2017, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) BLUE ROAD INC Statement of Cash Flows Indirect Method Adjustments to reconcile net income to net cash provided by operating activities: Non-cash investing and financing activities: Supplemental disclosures of cash flow information: Prepare a reconciliation of the change in property, plant, and equipment's carrying amount to the amounts appearing on the statement of cash flows and corresponding notes. (Do not leave any answer field blank. Enter 0 for amounts. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2017 2016 change Buildings Accumulated depreciation Equipment Accumulated depreciation