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A. Selected financial statement information and additional data for Portsmouth Co. is presented below. Prepare a statement of cash flows for the year ending December 31, 2018, by using the format provided below. December 31 2018 2017 Cash Accounts receivable Inventory Prepaid expenses Land Equipment Accumulated depreciation-Equipment $30,000 55,000 65,000 15,000 70,000 90,000 (18,000) $307,000 $35,000 45,000 45,000 25,000 40,000 75,000 (8,000) $257,000 Share capital-ordinary-ordinary, $10 par Retained earnings Accounts payable Accrued liabilities Bonds payable Notes payable, long-term $189,000 8,000 65,000 15,000 30,000 0,000 $307,000 $159,000 5,000 52,000 18,000 0,000 23,000 $257,000 Additional information: 1. Cash dividends of $9,000 were declared and paid during the year. 2. Land was acquired for $30,000 in exchange for ordinary shares, par $30,000, during the year; all equipment purchased was for cash