Ochoa Group, had the following condensed statement of financial position at the end of operations for 2018

Ochoa Group STATEMENT OF FINANCIAL POSITION DECEMBER 31, 2018

Investments 20,000 Share capitalordinary 75,000

Land 40,000 Retained earnings 24,500

Plant assets (net) 67,500 Long-term notes payable 25,500

Current assets other than cash29,000 Bonds payable 25,000

Cash 8,500 Current liabilities 15,000

165,000 165,000

During 2019, the following occurred.

1. A tract of land was purchased for 11,000.
2. Bonds payable in the amount of 20,000 were retired at par.
3. An additional 10,000 in ordinary shares were issued at par.
4. Dividends totaling 9,375 were paid to shareholders.
5. Net income was 30,250 after deducting depreciation of 13,500.
6. Land was purchased through the issuance of 22,500 in bonds.
7. Ochoa Group sold part of its investment portfolio for 12,875. This transaction resulted in a gain of 2,000 for the company. The company classifies them as non-trading equity investments.
8. Both current assets (other than cash) and current liabilities remained at the same amount.

Instructions

a. Prepare a statement of cash flows for 2019 using the indirect method.

b. Prepare the condensed statement of financial position for Ochoa Group as it would appear at December 31, 2019.